My mom had given me a stack of charm squares that she had gotten either from Connecting Threads or Keepsake Quilting (this was maybe over 10 years ago) and being the compulsive sort, I washed them.
A couple of them shrank over 1/2 inch one way. A few of them became diamonds. Some of them stayed the same way they were before washing.
They were cut with straight edges.
I understand pinking the edges to minimize fraying threads.
So, you are saying that if you cut off the pinked edges, then the piece would be less than five inches square?