The swatch shrunk about 1/4 in horizonataly and 1/2 in vertically for a 2 in section. If you can see the pink thread in the picture, they started 2 in apart.
Here it is on the needles. I added some stripes where I felt like it. :p
I really like magic loop. It's great for something that changes diameter like this.
Here it is in all its floppiness waiting to be fulled in the wash. I hope I like how it turns out. I have more ideas for unexpected knit sculptures.