Green’s Dictionary of Slang

Max Factor n.

[brandname Max Factor, a leading producer of cosmetics and make-up]

1. (esp. fig.) an actor, i.e. one who fakes illness or injury, a footballer who ‘dives’ etc [rhy. sl.].

[UK]R. Puxley Cockney Rabbit.

2. (N.Z. prison) one who has a black eye [the idea of it resembling ‘makeup’].

[NZ]D. Looser Boobslang [U. Canterbury D.Phil. thesis] 115/1: Max Factor n. a person who has received a black eye.