I tend not to want any oil in my hair; is yours very dry? My mom used to use a lanolin-based lotion in her hair to combat dryness. (It works for sheep! )
I believe the point of baby oil for babies is to prevent diaper rash by repelling water from skin in the diaper area. I haven't heard of its being used for hair.
Thinking further on this, if lanolin is not for you, you could try jojoba oil, which is the closest thing to human sebum-- thus most like our natural hair oils.