Altering/ changing size of pattern for TEA PANTIES

i found a pattern for “tea panties” http://www.spindlicity.com/spring2006/teapanties.shtml the pattern is for a mug with a 4 7/8" outside diameter and i would like it for a mug with a 3.5" diameter. Just to make things even more fun the pattern calls for a bulky weight yarn and i am going to be using medium (i couldn’t find any bulky weight WOOL at my yarn store.) if anyone would be able to help or point me in the right direction it would make my day, i think this pattern is so cute!

Could you just felt it down to the right size?

i have never felted before, can i do that?

yes!!! You just felt it a little more. Using thinner yarn will make it smaller as well… why not do a swatch, measure it, then felt the aswatch and measure it afterwards. Then you can figure out the percentage of shrinkage, so you’ll know what to expect.

i made one of these before and just felted it to fit the tea cup.