We experimentally demonstrate shaping of the two-photon wave function of entangled-photon pairs, utilizing coherent pulse-shaping techniques. By performing spectral-phase manipulations we tailor the second-order correlation function of the photons exactly like a coherent ultrashort pulse. To observe the shaping we perform sum-frequency generation with an ultrahigh flux of entangled photons. At the appropriate conditions, sum-frequency generation performs as a coincidence detector with an ultrashort response time (∼100 fs), enabling a direct observation of the two-photon wave function. This property also enables us to demonstrate background-free, high-visibility two-photon interference oscillations.