The easiest way, especially for something that will only be used once, would be this:
Using Liquid Latex, paint the shape of the mustache on a piece of plastic wrap or plexiglass or something else non-stick. A light dusting of facial powder will help it unstick later. After that has dried, go ahead and
build up a few more quotes, being careful to feather it out at the edges. Once you have a few layers built up, get a small handful of
crepe hair. Cut one end so that you have something even to stick to the
base. You can go ahead and leave the other end longish; you'll
trim it later. Put a thick, wet layer of latex on the
base and stick the hair into it. Repeat as needed to
cover the
base. Once it is all good and dry, cut the hair to shape. You can use an xacto knife to
trim any lumpy edges of the
base. Carefully remove it from the plastic and you are done. To adhere it to the
face, more liquid latex will work. If you want a more substantial attachment, you can use
Spirit Gum. If you use that, though, make sure you have
Spirit Gum Remover on
hand too, as otherwise it will be stuck for a good long time and there will be much pain.