The present invention addresses the problem of providing: an aqueous dispersion for cosmetic applicatio ns which has both flexibility and a hair styling property (a hair style retaining property) and enables the easy restoring of a hair style even after the s hape of the hair style is lost and a cosmetic produced using the aqueous dispersion. A polyurethane is used which is produced from a polyol component comprising a polyether polyol and/or a polyester polyol and a polyhydric isocyanate component said polyurethane being characterized in that the polyether polyol in the polyol component is a polyether polyol containing a constituent unit derived from a polyalkylene glycol having 2 to 4 carbon atoms as the main component and having a number average molecular weight of 400 to 4000 inclusive or a polyester polyol having a constituent unit derived from at least one dicarboxylic acid selected from the group consisting of phthalic acid isophthalic acid and terephthalic acid.
