Here are the results of yet another informative Blender Guru Tutorial.
This tutorial is short and to the point. It was one of the easiest to follow, you set up the cloth simulation pretty quick and then work on the textures and materials.
I rendered this image using 200 samples, 14 minutes 4 seconds on cpu. I used a bokeh blur mixed with the original image in the compositor.
If you want to give it a try follow the link below.