The Drunken Lizard Pub

I mean of course, do they eventually disappear along with everything inside?

Also

Do they disappear if they start accumulating around a given area, like say my character's house. If so, what's the number and size of area where I can expect these loot bags to begin disappearing if I keep accumulating more and more. Right now, I've got about 6 or 7 sitting on the floor of my house dropped by mice that I re-purposed as storage containers.

The only issue I recall is if you have too many things in an area, sometimes one can drop in a place where you can't get to it or you can accidentally get one thing to drop on another, eliminating one of them. It's been a while since I've run through, though. Otherwise, they don't just vanish on their own and are perfectly safe if you can remember where you left what.