An apparatus and method for forming a sheet of material into a flower pot or flower pot cover with fins. The apparatus comprises a male mold, a female mold having an opening mating with the male mold, and means for moving the male mold into and out of the opening of the female mold with the sheet of material between the two molds. To form outwardly extending fins in the flower pot cover, fingers are extended from the male mold to push folds in the sheet of material between segments of the female mold. The female segments are closed on the folds to form fins in the sheet of material as the male mold is pressed into the female mold to make the flower pot cover. To form inwardly extending fins, fingers are moved between the female segments to push folds in the sheet of material between segments of the male mold. The segments of the male mold close on the folds to form fins in the sheet of the material as the male mold is pressed into the female mold to make the flower pot cover.