I have bow legs and heard you can get surgery to fix this. I am 26 and only 5 foot 4 inches and heard that the surgery makes you shorter is this true?

Probably not. You can be born with bowed legs (genu barnum) or develop them secondary to medial (inner knee) joint arthritis. Generally surgery involves removal of a wedge of bone which would shorten the bone, but the once the correction of the angular deformity is done, it more than compensates for this. Imagine the letter "l" as your leg. If you straighten it out, you'll make it longer.
No the syrgery will. Make shorter, if the orthopedic surgeon recommend the correction go for it.