Although rice is a well-known source of nutrients, it unfortunately accumulates As the most compared to other cereal plants. Due to the growing interest in rice-based cosmetics, the aim of the work was the multi-element analysis of various home-made (natural) rice waters and commercialized ready-to-use rice-based cosmetics for skin/hair. The total concentrations of Al, As Ca, Cd, Cr, Cu, Fe, Mg, Mn, Ni, Pb, and Zn in raw rice and rice products were determined using inductively coupled optical emission spectrometry (ICP OES) after wet sample decomposition in the presence of concentrated HNO3. In the case of As, the hydride generation (HG) technique was used as a sample introduction system to the ICP OES instrument. Five different procedures, including washing/rinsing, soaking, boiling, and fermentation steps, and three rice types, i.e., white, brow, and jasmine, were used for this purpose. The effects of the water temperature, the contact time of rice grains with water, and the type of rice on the water-soluble concentrations of elements were examined and compared. A significant difference in the solubility of elements was observed depending on the type of rice, with the lowest percentage of extraction noted for brown rice. The best option was soaking unwashed rice grains in a six-fold excess of cold water for 30 min. The selection criterion was to preserve the highest content of essential elements (Ca (0.76−1.2 mg kg−1), Cu (9.2−43 ng k−1), Fe (0.096−0.30 mg kg−1), Mg (6.9−11 mg kg−1), Mn (0.16−10.32 mg kg−1), and Zn (0.083−0.25 mg kg−1)) with reduced to a minimum As level, i.e., <5 ng g−1 (2.8−4.8 ng g−1), making this water safe for consumption. In contrast, regularly drinking water after boiling or soaking rice grains in hot water carries the risk of consuming an excessive amount of this element due to As content exceeding the permissible value, i.e., 10 ppb. Finally, these home-made products were compared with commercialized cosmetics for skin/hair, with satisfactory results.