Cinta's original post -- in the picture it says 'cement water' and I'm thinking that means it's watered down cement, more liquid than cement-y.
When you add water to Elmer's glue and dip cloth in it, then drape that cloth over something and let it dry, the folds form as it hangs. When dry, the Elmer's glue dries hard, holds the folds in place. I think the same would apply to cement water, but it would be permanent, unlike Elmer's which will fall apart when wet again.
I also think the cement water should be a little bit thick, but not very -- otherwise the finished product folds will crack or break easily.
I don't know . . . just thinking out loud because I really like this project.