Cut the felt following the pattern. Glue the pivot at the back.
Warm up the felt with the blow dryer and give it some shape with your hands. When it's warm lift up the rounded edges and the inner border, let it cool for a second and see it keeping the shape
Cut out the mirror paper.
Glue the mirror paper and continue shaping the felt with heat until you get the shape that you want. To be sure that the felt will keep the shape forever spray it with a sealant.