Time series photometric measurements are presented of comet P/Schwassmann-Wachmann 1 at a heliocentric distance of 5.886 AU when the comet possessed an extensive coma. The light curve shows a modulation caused by the rotation of the nucleus. The rotation period is considerably shorter than the 5 day period found by Whipple [AJ, 85, 305 (1980)] and we find substantial evidence that the nucleus may be in a complex spin state characterized by two periods 14.0 and 32.3 hr. Models of the rate at which the rotational light curve range decreases as a function of the amount of coma in the aperture have determined that the projected maximum to minimum axis ratio of the comet is 2.6 and that the product of the albedo times the rotationally averaged nucleus radius size, p(R)R(N)2 is 9.5 +/- 0.3 km2. Assuming a minimum geometric albedo of p(R) = 0.04, the maximum projected average nucleus radius is R(N) = 15.4 +/- 0.2 km, which is only 44% of the size estimated by Roemer [Mem. Soc. Roy. Sci. Liege, 13, Ser. 5, 23 (1966)]. However, using the albedo determined by Cruikshank & Brown [Icarus, 56, 377 (1983)] of p = 0.13, the nucleus radius is only R(N) = 8.6 +/- 0.1 km. Because of the unknown nucleus orientation, these will be upper limits to the nucleus size. It appears that the nucleus of P/Schwassmann-Wachmann 1 is not the large nucleus that it has been believed to be for nearly 40 yr.