Wax, or cerumen, is a normal secretion in the cerumenous glands in the outer part of the meatus, and can obscure or partially obscure the drum.  When it is first produced it is colourless and semi-liquid in consistency, but with time it changes from pale yellow, to golden yellow, to light brown and finally black.  As the wax darkens it also hardens,  and the darker the colour the denser the consistency.

Normal ear