Young vs Aged Lips
Beautiful lips have many characteristics that differentiate them from their
older counterparts. These can be better ascertained from the full frontal
and side profile views.
Young Lips
From the full frontal view, one can appreciate that the young lip has a
relatively

short distance from the base of the nose to the upper
vermillion. The edge of the red lip itself has a distinct Vermilion border
or "white roll" with an actual topographically differentiating ridge.
There is a good amount of upper tooth show (4-5 mm) when the upper and lower lips
are parted in repose (as when breathing through the mouth), while there is
little to no lower tooth show. The corners of the lips have a subtle upward
tilt.
The thickness of the lower lip in its central half is 2 to 3 times
the thickness of its upper counterpart. Finally, the width of the mouth, as
measured from corner to corner, is no more than twice the width of the
nostril span.
Young, up-and-coming model Lindsey Wixson also displays extremely

beautiful lips, albeit in an almost comically exaggerated way, similar to those of a baby. Notice the relatively short upper lip, upper tooth show, the relative thickness of her lower lip in it's center half and the almost 1-to-1 ratio between the width of her nose and the width of her mouth as measured from corner-to-corner.
With Age
With age, these aforementioned qualities diminish. Both the upper and lower lips display inversion (in other words they turn inwards towards the teeth as the bony support of the skull, jaws and teeth erodes).

The width of the mouth elongates from corner-to-corner and the arch of the upper lip becomes flat.
The lower lip starts to hang and become redundant thereby exposing more of the lower teeth while the upper lip elongates and hangs over the upper teeth.
The corners of the mouth droop to varying degrees. Concluding this picture of oral senescence is the gradual wrinkling of the actual lip skin itself. This latter finding is mostly seen in women as opposed to men, because I feel that men essentially exfoliate their lips every day through diligent shaving!

As seen in profile view, the upper lip should protrude beyond the most projecting portion of the lower lip by approximately 2 mm (see accompanying diagram) and both the upper and lower lips should have a slightly provocative convexity adjacent to the red lip proper.