Theoretical calculations, computer simulations and experiments indicate the
possible existence of a ferromagnetic liquid state. Should such a state ex
ist, demagnetization effects would force a nontrivial magnetization texture
governed by the shape of the liquid droplet. Since liquid droplets are def
ormable, the droplet shape couples to the magnetization texture. This paper
solves the joint shape/texture problem subject to the assumption of cylind
rical droplet symmetry. The shape undergoes a change in topology from spher
ical to toroidal as exchange energy grows or surface tension decreases.