I played with it in the mid-70s, but I think it was older than that. It was a 2-part machine, completely unsafe.
Part 1 was a series of bug-and-spider shaped molds, into which you poured liquid rubber of various colors, and cooked in the machine, to make cool looking rubber bugs.
Part 2 was a metal mold that would get very hot, and you would flip a flat piece of thin plastic onto it and it would semi-melt, creating a shape you could cut out. I seem to recall airplane shapes.
All created really toxic vapors, and were burn hazards to boot. I have no recollection of what it was called. I seem to recall it was discussed about a year ago on
X-Entertainment, linked from a FARK thread, but I've been banging the hell out of the search engine on their site and I can't find it.