The famous John Howe image of Gandalf striding through The Shire does not have eyebrows which extend beyond the brim of his hat, although they are a bit thick and his hair does flow out from under the sides of the brim.
You know, I have the vaguest hunch, just a teeny tiny suspicion, that something about this topic will eventually come round to depictions of balrogs. Not that they have ever been said or argued to have such accoutrement as bushy eyebrows.