clipping mask not converting into shape, pathfinder not working

You can release the mask, use path finder to combine the shapes to the final shape and then mask with that?
The pink shape is a group so you need to get rid of all the contents before you can clip it. 

You can mask a mask, but you cannot "minus mask" a mask.  You could make a square covering the whole area and paste that behind the pink shape (as shown below). Make a compound path (or pathfinder minus front) from pink shape and square. Now use that shape as a mask from the coloured area.

I would consider rebuilding the shape once you decided how you want it. You can also make the shapes you want to fill and use the "paste inside to put the patterned colours inside the shapes if that makes it more managable. 

nitzankrivine,

It is better to keep it all here, where you have the first answer already:

https://community.adobe.com/t5/illustrator/clipping-mask-not-converting-into-shape-pathfinder-not-working/td-p/12096395

Edit: Obviously, a moderator friend was faster than I.

nitzankrivine,

As I (mis)understand it, you have a multicoloured set of objects in the back and a pillow shaped frame on top to form the bottom Clipping Mask.

Then you have a pink(ish) object with another pillow shaped frame on top to form the top Clipping Mask. Or you could create it as the pillow frame object with a pink(ish) fill.

Maybe the easiest way to cut out the latter from the former is to change the colour from pink(ish) to full black, then select both and in the Transparency palette (flyout) click Make (Opacity) Mask with both Clip and Invert Mask unticked.