Some interesting views here both for and against. One contributor states you make your own plug with soft solder and a rivet (a practice historically advocated by various ME "guru's). The American boiler code quoted by another requires pure tin – sensible standard depending on the pressure of the boiler. Tin melts at around 232dgrees C. Temperature of saturated steam is around 177 degrees C at 100psi, so on a boiler of WP pressure of 100psi or less you have a reasonable margin although the tin probably will not need to fully melt in order for the plug to fail so it may relieve at a lower temperature than the actual melting point of tin! If you use pure lead with a meting point of around 328 degrees C you have a better margin for service and unwanted false alarms but the strength of copper decreases to around 95% at 100 degrees and further decreases to around 90% at 300 degrees (graphs on interweb I consulted have poor definition so very course values). If you alloy tin and lead the melting temperature can in fact be increased above the constituents which makes it worse! So if you are making your own plugs you need to very sure of the soft solder you are using to end up with a product that delivers the required protection and does not give a false sense of security!
Then we have the maintenance aspect. The plug itself as also mentioned in this thread needs to be removed, inspected and cleaned on at least an annual basis, on full size loco's they are inspected at every wash out (interval between 14 and 30 days steaming). If a layer of scale deposits on the water side of the plug this will reduce the heat conduction away from it and lead to premature melting, the scale can also block the passage left by the melted material and stop the discharge!
It was mentioned an accident resulted from a dropped plug through fire being blown out of the door! To paraphrase a famous film "it's not supposed to blow the bloody doors off". Clearly in that case the bore of the plug was far too large. The purpose of the plug is to give a warning it is not supposed to act as a safety valve to dump the boiler pressure into the fire!
Summary fusible plugs are no substitute for proper boiler management! They are difficult to make and size to be effective. If not regularly maintained they can be unreliable. In anything less than a large 4" scale TE or larger 7 1/4" loco boiler they are unlikely to be of any real practical benefit. A safety device you cannot rely on is not worth having.
I have previously tried to find reliable documented accounts of small boiler failures per se let alone failures due to low water level and found nothing. There is a good ORR report on a narrow gauge loco the driver of which was inexperienced and if I am thinking of the right one managed to continue to run the boiler for a time with a dropped plug and completely wrecked the boiler, plug didn't save anything there! So back to the previous point, manage your boiler competently if you want to prevent damage! Definitely don't rely on something cobbled together in your shed with unknown or unverified materials!
Paul.