Having Googled for some images, I think the important thing is that the sash is not a (simple) loop.
Best examples are Miss World France 2000 (in evening dress) and Some other Miss World contestants (in bikinis).
Notice how the ends meet or cross at the hip.

Best search was for "Miss World".

Edited to add :
You may have to reduce the Collision Depth to get it to look right when simulated.

Message edited on: 03/20/2005 08:23