Multi-phase liquid antiperspirant compositions and antiperspirant products including multi-phase liquid antiperspirant compositions are provided. In one embodiment, a multi-phase liquid antiperspirant composition includes a first liquid phase, a second liquid phase, and a surfactant component. The first liquid phase includes an antiperspirant active compound and water. The second liquid phase includes a cyclomethicone component. The surfactant component is present in the multi-phase liquid antiperspirant composition in an amount sufficient to form an unstable emulsion of the first liquid phase and the second liquid phase upon mixing of the multi-phase liquid antiperspirant composition. The first liquid phase and the second liquid phase separate into visibly distinct layers within the multi-phase liquid antiperspirant composition after a settling time period of less than or equal to 48 hours. In another embodiment, an antiperspirant product includes a container and the multi-phase liquid antiperspirant composition disposed in the container.
