Place first 3 ingredients on a 6-inch square of cheesecloth; tie with string.
Melt 2 tablespoons butter in a medium saucepan over medium heat; let remaining butter soften. Add shallot to saucepan, and sauté 2 minutes or until tender. Add wine and cheesecloth bag; bring to a boil. Boil 15 minutes or until mixture reduces to 1/2 cup. Cool; remove and discard spice bundle.
Process softened butter, cooled wine mixture, chives, lemon rind, salt, and pepper in a food processor until blended, stopping to scrape down sides. Roll butter into a 7-inch log in plastic wrap. Refrigerate until firm.