There are a few options for actually shrinking your plastic. You can use a toaster oven, a regular oven, a heat gun, or an embossing heat tool. Hair dryers are generally not hot enough. I have a toaster oven that’s used exclusively for shrink plastic (or other crafts). I usually heat it to 350-375 degrees Fahrenheit, but your mileage may vary. If you go this route, you’ll want something to remove and put in the hot tray, such as pliers or an oven mitt. You can put your shrink plastic straight on the tray, but using a piece of parchment paper or aluminum foil will protect the surface, and lets you slide the plastic off before it’s cooled and put more pieces in right away. If you’re doing this with a group of kids, I highly recommend anything that will make getting the next piece in as soon as possible. Shrink plastic is a favorite and there's always a line to shrink more things.
Pop it in and watch the fun. Your plastic will heat up in different spots at different times, which means that it will do some curling. Don't freak out, this is normal, and it will flatten back out. Sometimes, especially on large pieces, those curling edges might touch and then stick to each other. If this happens, pull it out of the toaster oven, and gently pry the edges apart with a couple pairs of pliers or forks or whatever other grabby tools you have on hand, then pop it back in. When your shape has flattened out, it’s done. Pull it out and let it cool.
It's entertaining watching kids see this process for the first time. They absolutely don't believe you that the curling up thing is temporary. They say "Oh no! It's getting all messed up!" and then are shocked when it flattens out again.
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