How can I make the blanket effect or a table cloth effect.
PG1,
Take a look at these. The first link is from 2.37, so it will be a little out of date. The second link is from 2.41, so will be more recent.
http://www.blender.org/development/release-logs/blender-237a/
This one has a blend file.
http://www.blender.org/development/release-logs/blender-243/softbody-enhancements/
Best of Luck!
any other tutorial on soft bodies
just youtube it. you’ll probably have problems with the blanket cutting through box edges and stuff. no of the tutorials i found had a definitive fix for it,but i messed around with the outer and inner face edges and it fixed it more or less!that and subdividing till my computer computer crashed! :evilgrin:
Thanx man! I didnt think about that 
even though this etube people dont like to share their video tutorials:mad: