Make the Cowboy Butter: Add the butter to a skillet over low heat. When it starts to melt, stir in the shallot, garlic, Dijon mustard, Worcestershire sauce, steak seasoning, parsley, chives, crushed red pepper flakes, dried thyme, and cayenne pepper. Cook over low heat for 2 to 3 minutes, stirring often, until fully melted and combined. Remove from the heat.
8 tablespoons unsalted butter, 1 small shallot, 1 tablespoon minced garlic, 2 tablespoons Dijon mustard, 1 tablespoon Worcestershire sauce, 1 tablespoon steak seasoning, 1 tablespoon chopped fresh parsley, 1 tablespoon chopped fresh chives, 1 teaspoon crushed red pepper flakes, 1 teaspoon dried thyme, 1/4 teaspoon cayenne pepper