A transversely isotropic fiber reinforced elastomer’s hyperelasticity is characterized using a series of constitutive tests (uniaxial tension, uniaxial compression, simple shear, and constrained compression test). A suitable transversely isotropic hyperelastic invariant based strain energy function is proposed and methods for determining the material coefficients are shown. This material model is implemented in a finite element analysis by creating a user subroutine for a commercial finite element code and then used to analyze the material tests. A useful set of constitutive material data for multiple modes of deformation is given. The proposed strain energy function fits the experimental data reasonably well over the strain region of interest. Finite element analysis of the material tests reveals further insight into the materials constitutive nature. The proposed strain energy function is suitable for finite element use by the practicing engineer for small to moderate strains. The necessary material coefficients can be determined from a few simple laboratory tests.