Building a basic square wave oscillator can be achieved by creating a resonant circuit that generates a sine wave and then using a digital inverter to convert it to a square wave. For those working with mains voltage, safety is paramount, and it's advised to use a transformer to step down the voltage before experimentation. If using a sine wave from the mains, it can be scaled down to a 0-5V signal suitable for the inverter, which may require a voltage divider and a capacitor for proper coupling. Concerns about using high-voltage transistors for controlling AC mains are raised, suggesting that pulse-width modulation (PWM) might be a more effective method for motor control. Overall, the discussion emphasizes safety and the importance of understanding circuit design when working with high voltages.