Link took me to their website. Looks like an infomercial for their product. The 3d printing I have seen so far would not produce a flexible soft plastic bait. Maybe the mold for the bait was a 3d printed mold???
Start with safety equipment first, respirator, face Sheild, gloves. Then read, read, and read some more. Start small and slow, this will get expensive quickly.
If you use the can crusher, or any other pressure, get some gum rubber. The blades go through the tube easier and the rubber won't dull your blades as quickly. General rubber carries it.
It may be non toxic in the raw form but if over cooked it is very toxic. Burnt plastisol will produce throat irritating fumes and black particles floating in the air. A respirator at the very least, should be worn at all times and please keep the kids away.