There are a few ways that you can create a wrinkle effect in Photoshop. One way is to use the Liquify filter. To do this, go to Filter > Liquify. In the Liquify window, select the Forward Warp tool from the left toolbar. Then, click and drag on the area of the image that you want to wrinkled. You can also use the Twirl tool to create a wrinkled effect. To do this, select the Twirl tool from the left toolbar and then click and drag on the area of the image that you want to wrinkled.
Another way to create a wrinkle effect is to use the Displace filter.
To do this, go to Filter > Distort > Displace. In the Displace window, select an image that you want to use as your displacement map. I usually use a noise texture for this. You can find plenty of free noise textures online by doing a Google search. After you select your displacement map, set the Horizontal Scale and Vertical Scale to around 10-15. Then click OK. Your image will be distorted and will have a wrinkled appearance.
There are many other ways to create a wrinkled effect in Photoshop. These are just two of the most common methods. Experiment and see what works best for your particular image.
The best way to create a wrinkle effect in Photoshop depends on the particular image you are working with. If you are looking for a more subtle effect, using the Liquify filter or Displace filter may be your best bet. However, if you want a more dramatic wrinkled effect, experimenting with different filters and options until you find something that works well with your image is probably your best course of action.