That sounds very cool! I've never done anything like that before. Can you give me any hints as to what kind of rubber I would need?
[Silicone rubber is the best. But don't freak out about the price - it's not cheap stuff. Start with the tin-soap catalyzed systems; they're more forgiving than the platinum-cured type, and a little less expensive.]
I imagine that the machinable wax would be the "positive", then the rubber would be molded over the was to create the "negative", then pouring the plaster or concrete or whatever into the rubber would create the final part. Going back to Mythbusters again, that's where I became familiar with the procedure above, but don't know what kind of rubber I should use or where to get it.
[You've basically got it right, but most molds will require a stiff "mother mold" for backup. These can be made out of plaster, plastic, or anything that will conform to the mold and hold its shape. You can get silicone rubber from here:
Polytek Development Corp. - they also have some instructional materials on the site.]
Thanks for your help! This could be fun if I can get it to work.
[Edited to Add the Following]
I was also wondering about the foam thing.... Are you saying that that the foam should be put into something completely air tight like a metal mold? Or just something to restrict expansion a little?