Attached Link: http://www.laroo2.com/tut/dynammorph/

This is a very straightforward tutorial that even shows you how to morph your figure and get the clothing to fit. You don't have to do it though, you can skip the morphing part if you like and just pose the figure at that step. One thing not mentioned in this tutorial is that after frame 15 where you have the pose until frame 30 the simulation is run so you can get a selection of settings and decide which frame you like best. You can go back and forth on the animation bar in the Pose room when you're ready to render your image. And if you want an even quicker version, dynamic clothing in one frame, check out this tutorial by Deecey: http://www.laroo2.com/tut/deecey/oneframe.pdf