i might not be the correct person to be responding to this, but blender 3d has soft body abilities.  what i would reccomend is (for bodily clothing)  to make a couple of reference circiles (mesh) (where elastic would be) and extrude them about the length and shape you want, then to apply the soft body deformation physics simulation on them.  as for the shoes, the only moddels i have ever used dont actualy have feet, but legs extending into the shoes.  i would assume this is the easeist way.