The quantitative determination of the shape of liquid drops levitated in an ultrasonic standing wave has provided experimental data on the radiation pressure‐induced deformations of freely suspended liquids. Within the limits of small deviations from the spherical shape and small drop diameter relative to the acoustic wavelength, an existing approximate theory yields a good agreement with experimental evidence. The data were obtained for millimeter and submillimeter drops levitated in air under 1g, wheregis the sea level gravitational acceleration.