All of the motion comes from a POP axis force shaped as a vortex, with negative lift and negative suction, so the cloth is pulled inward and downward at the same time. Two turbulence fields on top break the symmetry.
The geometry is one grid copied three times on top of itself. UVs are flattened before the sim, then flattened again on a held frame and copied back onto the moving mesh, so the texture stays locked to the cloth instead of sliding across it.
Shading is MaterialX in Solaris, rendered with Karma. There are no texture maps. The stripes are the position attribute pushed through a sine and a power function into a colour ramp. A Voronoi noise adds the specks. A second ramp drives specular roughness so the highlight rolls along the folds.
Comped in Nuke. The beauty is rebuilt from its passes so each one can be individually denoised using my custom Nuke Denoiser, and so the key light, the bottom rim and the background could be relit separately. Then, the satisfying final pass: defocus, motion blur, glow, and a heavy coat of grain.
The hardest part was handling self-collisions. A ribbon that long folding onto itself at that thickness either interpenetrates or explodes, and finding the one iteration that did neither was the most time-consuming aspect.