drape
To hang cloth or something else so it falls loosely.
To drape means to arrange cloth or fabric so it hangs loosely and gracefully over something. When you drape a blanket over the back of a couch, you're not folding it neatly or tucking it in tightly; you're letting it fall naturally in soft folds. Artists drape fabric over their models when painting, allowing the material to create elegant curves and shadows.
Drapes (the noun) are long curtains that hang in windows, and drapery refers to cloth arranged in graceful folds, whether in real life or in paintings and sculptures. When Michelangelo carved statues, he paid careful attention to how stone drapery appeared to flow over the figures' bodies, making hard marble look as soft and natural as real fabric.