Java factory pattern creating objects

I am designing a solution in Java, and I have to create n objects, based on property values. I am using factory design pattern.

Using the classic example of shape and shape types

String myShapes="circle,square,circle,rectangle"  // This is from a property file
for ( shapeType : myShapes.split("," ) {
   ShapeFactory shapeFactory = new ShapeFactory();
   Shape shape1 = shapeFactory.getShape(shapeType ); 
   shape1.doSomething(); 
}

Can someone tell me whether the following is right approach in creating the objects? I don't know how many objects I will have to create during compile time.