I have currently following two items:
One for a switch (on/off), and another for temperature. I wonder if there was an easy way to use one button which would do both…
You can use custom:button card
It’s limitless. Though it needs some effort to configure into exactly what you have dreamed
example:
I was wondering if I could somehow just use a regular switch button and make its name to refect temperature…
The post of @maxym is a good option.
custom mushroom template card is also a good option.
Or the default home assistant button card with a configured tap action.