Is it possible to create cloth effects that work on mobile devices Android/iPhone?
Not yet. (No word has been given that it will become possible, but Unity seems to be a stable business, and the hardware should become capable enough within a few years.)
This really needs to be officially documented somewhere highly visible. Otherwise, this question can be asked indefinitely, and I don't think it will count as a duplicate. How is anyone to know when things change, or even that there is anything to change?