by 
The Curious Bag
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<h4 class="dechead">On One Hand: Lava Lamps Are Safe
Lava lamps are safe decorations for any room in your house. Lava lamps can remain on for hours at a time without risk, and the fluid inside is made of different formulas including colored water and alcohol as well as mineral oil with light paraffin, a dye, carbon tetrachloride and paraffin wax.
On the Other: Lava Lamps Are Heavy and Hot
Lava lamps are relatively weighty, made of a metal base enclosing a 40-watt lightbulb and a tear-drop shaped piece of glass that holds the liquid. After several hours, a lava lamp can become very hot, so a lava lamp--placed too near the edge of a shelf or dresser--may fall and cause blunt injury or burns.
Bottom Line
Lava lamps can be hip decorations that are generally safe in most conditions as long as you ensure the lava lamp is placed in a secure spot with little chance of being knocked over.
Source:
The Straight Dope: How Do Lava Lamps Work?
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