I have this same shirt and wear my hair like this regularly! This could be me after I lose :) ----Shirts you like but are so stiff you'll never wear them? Here's a recipe to soften them up and create a "vintage tee" look and feel.
DIY spray painted of July shirt; they sell this in t-shirt form at Wal-mart for 6 bucks. Easier to cut and make into a tank top rather than airbrushing; Use tape and stencils on a white shirt *use blue & red spray paint.
Stitch lace or ruffles to spaghetti straps to widen. (Although this may be a bra, you get the idea.) Sew a ring on the underside front and back of top. Use chains or strings of beads, attach with necklace clasps for easy removal to wash top.