Can someone explain how to use Skinned Cloth?
There isn’t a tutorial around to use and I can’t seemed to get it to work.
About the skinned cloth its really easy and annoying at the same time because you cant paint the weights properly,reason is Lack of Painting brush in Unity.
But the deal is selection, u select the vertices and all that by selection. giving them weight and physical properties. to understand wot are the options inside take a look at this
http://unity3d.com/support/documentation/Components/class-SkinnedCloth.html
I also tried it on an iOS device it works alright but it drops your frame rate as well so you gotta costumize your cloth 
Hope this would help.
Ibrahim