This paper describes the prototype of a new, state-of-the-art, ultrasonic instrument which has been designed to assess the formability of sheet metals, in particular those properties crucial in deep drawing operations. This instrument was designed and built under the support of the Center for Advanced Technology Development (CATD) of Iowa State University (ISU) through the cooperative efforts of the Center for Nondestructive Evaluation (CNDE) and Ames Laboratory Instrumentation Services Group and Magnasonics Inc. of Albuquerque, New Mexico.