A model of the change in shape of a raindrop is presented. Raindrops measured by two orthogonal cameras were classified by shape and orientation to determine the nature of the oscillation. A physical model based on potential energy was then developed to study the amplitude variation of oscillating drops. The model results show that oscillations occur about the equilibrium axis ratio, but the time average axis ratio if significantly more spherical for large amplitudes because of asymmetry in the surface potential energy. A generalization of the model to oscillations produced by turbulence yields average axis ratios that are consistent with the camera measurements. The model results for average axis ratios were applied to rainfall studies with a dual polarized radar