Transverse abdominus work is a great idea for women post pregnancy. Helps to loose the 'pooch' that many women develop, especially if they've undergone ceaserean sections. The TA is a band of muscles that runs horizontally across the abdomen. It is a stabilizing muscle and working it is one of the only ways to pull in that sag that occurs below the bellybutton. Look for exercises (like the plank) that emphasize the TAs. (Can you tell that I worked with a trainer for a number of years whose specialty was pre-and post-pregnancy training?
Plus my wife's last delivery was an emergency c-section.)
Finally, the fat has to go with a change in diet, as greg has mentioned. Check out the diet subform and the FAQ subforum for more info. Good luck!