Well, the third time was the charm.  The blue spotted mushroom was my third prototype and it was perfect.  I've scrapped the first two prototypes (I tried to retrofit them, but it was a no-go).  Now I'm just cranking them out.

You can see here that the red one doesn't have it's under-cap ridges yet.

Each mushroom is going to have a different color for it's spots and cap edge.  The bright colors I picked make them cartoony, buy I really like them anyway.

This is the embossed felt I'm using for the stems and underside of the caps  I picked it because of the color, but the pattern really makes it mushroomy.

**  Edit:  I get all my acrylic felt from normal stores like Joann's, Micheal's, and AC Moore. **

I've been avoiding the mushroom swap Flickr group until I had my design down pat because I didn't want to be influenced (or intimidated!) by the other swappers.  Once I post this I'll add these photos to the group and check out what I might be getting in return.