Once branded as unhealthful because of its high fat content, coconut oil is making one heck of a comeback. People are cooking with it and using it as a healing ointment for all kinds of ailments, from bad breath to diaper rash. Dermatologists praise it for its moisturizing powers; the fatty acids in coconut oil bind together, forming a barrier that holds water better, said Dr. Peter Lee, a dermatologist at the University of Minnesota. And nutritionists say it even pairs well with veggies. What's nut to love?