I'd prefer use lukewarm water with drops of baby oil. Do it after the baby had a shower, much better. I forgot to add, really use gentle q-tips.
Just use some water. :D Do you have any distilled water? Or else use some Johnson's baby wash, and then rinse with a Q-tip wet with water.
How old is your child? I'd just use a lot of soapy water without the q-tip unless you are dealing with that whole initial navel deal and I don't remember what that called for.
Perhaps Hydrogen Peroxide thinned down a little.