I've shrunk a few wool sweaters in my time. Today's salvage: mittens.
You need a felted sweater (just let your hubby toss one of your favorites in hot water and the dryer for you) plus a pair of mittens for a template.
Cut around the template leaving a little extra room for seam allowances.
Stitch around the perimeter of the mitten (no need to finish the raw edges).
Turn each mitten right side out. Use a blunt pencil or other pointy object to smooth out the thick felt seams.
Add embellishments and pat yourself on the back.