It depends how much you use. From tingly and nice to..
The main effect is it brings greater blood flow to your clit and labia so it also gets more sensitive, usually in a good way. But using more is a good way to explore you masochistic tendencies.
That last anon about the toothpaste and menthol got me thinking that it might be something I want to try… What is something like that feel like??? Does it hurt or do you lose sensation?