Shaping your project after felting is ABSOLUTELY ESSENTIAL to getting a good result! Make sure to set aside plenty of time for this, and start as soon as the wash cycle is finished, while the wool is still wet and easy to work with.
I've lost count of how many ridiculously misshapen projects I've pulled out of the washing machine, convinced there was no saving them. Luckily, a little patience and some thorough shaping can work wonders!
Pull, stretch and shape your project until you're happy with the result. If the felt has become very stiff, try adding a little warm water to soften it and make it easier to work with.
The same goes for any noticeable creases or folds that may have formed during felting. Dampen the area with a little warm water, then rub and shape it with your hands until the surface becomes more even.
Finally, leave your project to dry completely in the desired shape.