I think it isn't real wrinkle in the item itself but some photoshop trickery on the texture by whoever made it.
It's a normal map... Now as how to bake normal maps. Can't make a quick post about as it's generally back and forth process until you are satisfied.
How you do it generally :
1- Export your mesh (say panties) as obj as base level from Daz
2- Make a copy of that mesh on your favorite sculting software at higher subdivision (twice, thrice...).
3- Make it that the 2 meshes fully overlap
4- Find alpha brushes for cloth (many free) for sculting.
5- Scult the wrinkles on your high poly meshes.
6- Bake your high poly mesh as normal map on you low poly mesh
I would avoid Blender for sculting not because tools are bad (they are good imho), but because micro-stutter (it's unbearable). Baking maps with what suits you (Blender, Zbrush, Maya, 3DS, SP, xNormal...). Also Uber shader is a little weird with normals, don't hesitate to crank it up a little o/