Hi! Thank you so much for your response. It does not stretch evenly. I forgot to mention that here is an opening at the top in order for the fabric sleeve to slide over the ring. Here is a photo that shows the distortion. I will need to warp different kinds of images, some vector graphics, some pngs. I have tried envelope distort but am having trouble getting it to be accurate.
11141_60mmbackcropped.jpg.zip
Please let me know if this gives you any ideas!