xanthelasma xanthelasma xanthelasma is a sharply demarcated yellowish deposit of cholesterol underneath the skin. it usually occurs on or around the eyelids (xanthelasma palpebrarum, abbreviated xp). while they are neither harmful to the skin nor painful, these minor growths may be disfiguring and can be removed. there is a growing body of evidence for the association between xanthelasma deposits and blood low-density lipoprotein levels and increased risk of atherosclerosis.