On this page of our guide to Fall Guys we explain whether you have to wait until the end of the game after you have been eliminated. An alternative is to leave the show just after the struggles of the controlled character come to an end.
It is very likely that in the vast majority of games you will be eliminated in one of the earliest rounds, that is, before you advance to the final round and get a chance to win the entire show and acquire the crown.
After elimination you can (only if you want to do so) watch next rounds as a Spectate. Sometimes it's worth to continue watching the show if you want to check out other players ' tricks in particular mini-games, or keep track of how your friends are doing.
If you don't want to waste time, you can open the pause menu (ESC or Options button on the pad) and select the option to exit show. A very important note in this case is the fact that when you leave the game after your character was eliminated you won't lose any prizes. Also in this case, you will be rewarded with Kudos and Fame. Thus, you will make some progress on your account.