I had the same problem. Initially, I used heavy books on some of the wrinkles. It has been on the floor almost 4 months and the wrinkles are nearly gone. Fortunately, mine was in a guest room. If it had been in an often used room, I would have tried steaming it.

Can you turn it face down for a while? I couldn't because of the beds setting on it., but I kept thinking that would help it.

It will settle on its own.

When we moved and had rugs (and everything else) stored for a couple months in hot conditions, we found them in awful shape. There were numerous creases in several spots. I took moving boxes full of books and left them sitting on top of the rugs for a week or two. It helped the worse rug immensely. The other rug has been helped by time. They were wool rugs and I read they could be professionally steamed, but I was too nervous to try the steam method myself.
I also read that turning them upside down and or placing them on another rug would help, but time was the only thing that helped on one rug- about 6 months.

Holy cow! I might be stuck with an ugly rug forever! One end is much worse than the other. I was concerned about time in case I wanted to take it back. My other thought was if I exchange it, I will no doubt have the same problem. If it were summer I would think humidity would help solve the problem but winter is so dry I doubt it will help. I guess I'll suck it up and just wait. I wish I had somewhere else to unroll it. Do you suppose I could roll it much more loosely, maybe 4 turns, and put it in another room? It's a trip hazard in the living room.

Get some carpet tape and tape it down so it's not a tripping hazard.

It's laying on top of w to w carpet. I have a few things weighing it down now. Guess I'll head to the garage after old magazines. I know there are two boxes of them out there.

If the wrinkled rug is laying on top of wall to wall carpet, I doubt that it will ever look right. My experience with a rug on carpet is not good. MIL had an oriental rug over very plush wall to wall. Even with a rug size sticky pad, it never stayed flat.
Your friend,
Debbie Downer

I once bought a rug that was folded in half over a hanging rack. The wrinkle in it never did come out. It wasn't wool though.

"If the wrinkled rug is laying on top of wall to wall carpet, I doubt that it will ever look right. "

I agree.

Unroll it in the opposite direction and place heavy weights on four corners. This is how you can regain the original shape. Steam pressing also helps on certain occasions.

Days passed and I had other things to worry about. Checked the carpet this morning to see what I thought I should do next and it's laying down almost 100%. I'm going to just leave it there. If it's fixed itself this much in a week I expect it will finish laying down all by itself. It would look better laying on a different color/style of carpet but that is not in the budget so as far as I'm concerned it looks fine the way it is. If I could afford a different wall to wall I wouldn't need the 8x10.