It's usually up higher, but I've heard height can vary depending on the mamma and the pregnancy. I felt mine for the first time (while pregnant) last week, and it totally weirded me out so I looked it up. It's supposed to feel like two lips puckered together. IOW, closed and squishy. It's also often quite sensitive as it's filled up with blood and has more tissue around it. I was actually a little sore after I found mine.
For the unpregnant woman, the cervix feels much harder like the tip of a nose—though it can get a little soft during parts of the cycle, but nothing quite as swollen and squishy as during pregnancy. I was really shocked when I found mine.
Something really neat I found out from my midwife, too, is the color can turn purple or blue when you are pregnant. It's called Chadwick's sign: http://en.wikipedia.org/wiki/Chadwick's_sign
Our bodies are neat!