Ultimately, we can't tell you exactly how long you can leave butter out. We have no problem with leaving butter out to soften as long as it is well-covered. It usually doesn't take us more than a couple days to go through a stick anyway! We've never had rancid butter in that time.
For complete instructions, see my weekly column. Note: The vinyl melts in just a few minutes and is warm to the touch when you pull it from the 200-degree oven (don't use a hotter oven or the vinyl will start releasing toxins). You can form it by hand immediately, but use leather gloves if you're nervous. All beginners in Record Upcycling should try a bowl.
For this reason, some plastics are incredibly easy to melt, while others are almost impossible. Sturdy plastics can typically hold boiling water, which is at 212 degrees Fahrenheit, while soft plastics like plastic bags would melt if they came into contact with boiling water.