Normally with this kind of problem u could wait or sleep it off but for some reason none of these things work so yeah my character has a arrow stuck in his waist and yes it may be a minor bug buts its annoying like not have two sheathes for your swords when u dual wield.

I have this issue as well. I have found that equipping a bow and arrows fixes this sometimes, but not every time. I do hope they fix this soon.

Try getting shot a few more times.

I had one stuck in me that would vanish, then reappear everytime I entered a building to changed camera.

Getting shot a few more times made them all vanish.

I'm having this same thing, but it also applies to spells it seems. I had an arrow stuck in me for a while, and now i have a massive icebolt stuck in my kidney.

Try getting hit by more arrows and it should go away.

I had this issue yesterday, which was quite distressing. Tried unequipping/equipping all different kinds of arrows, that didn't work.

But here is what did work:
i.e., here is the quick fix:

Find an empty container.
Drop all of your arrows in the container.
Pick them back up again.
Presto!

This was sometimes a problem in Oblivion, too, but I think it was fixed later.

This happened with me too, and yes, where is my of hand sheath? Can't believe they've done this.

I've also experienced this glitch, quite often. The same, occasionally, has happened with ice spikes. And the frequency of this glitch seems to be increasing the further I get into the game.

I still have this problem and I don't have any arrows, theres none in my inventory to drop :S

Having the same problem, except for me it's two arrows and an ice spike. Tried all the above solutions (except getting shot) and nothings worked. Any other ideas?

Edit: Turning into a werewolf did the trick!

aw, that svcks!

hmm. i dunno then! i assumed the problem, even with ice spikes, was with arrows because my char had a big glowing ice thing in her torso and an arrow in her head when it happened, and my above method fixed it. i did find it strange that there were no iron arrows in my inventory at the time, though, cuz usually bandits hit me with those.

this suggestion is reaching, but you might try actually ACQUIRING some arrows to drop out of your inventory, just in case whatever's stuck on you is counted but not visible in your inventory.