After a short try without success with dynamic hair, I gave a chance to dynamic cloth, and it looks promising ...

This is a standard Jessi cloth from Poser6 made dynamic.
The 30 frames simulation took almost 2 minutes. The render 30 minutes.

Just need to figure that falling buttons ... lol

obs1: The JASC Animation Shop 3 is great to generate anitated GIF from AVI

obs2: A bigger WMV format is on http://pws.prserv.net/marcioab/cloth.wmv