Subverted: We catch a glimpse of a menacing looking bearded character, but he turns out to be on the good guy's side.
Double Subverted: ...Until we find out he was The Mole all along.
The villain laments his inability to grow an effective evil beard, and eventually goes for an obviously fake one. He becomes an Ineffectual Sympathetic Villain.
A brand of razors is advertised as fighting crime by keeping away evil facial hair.
The villain cuts his beard, and instantly becomes a good guy.
Zig Zagged: The suspicious looking character with a beard is actually on the good side, but he turns out to be The Mole. However, as soon as he reveals this, he shaves the beard off. After which he goes back to the side of good because the beard contained a tiny mind-control device implanted there by the Big Bad, and it's gone now.
Averted: Who has a beard and who doesn't has nothing to do with whether they're good or bad.
Enforced: We need a way for audiences to tell apart the Evil Twin from his heroic counterpart — let's give him facial hair so they can notice right away.
Lampshaded: "Fear me and my beard of doom!"
Invoked: A villain grows a beard for the sole purpose of making himself look more evil.