Shrunken

From Egs Mayhem

Wherein a person achieves a decidedly different perspective of the world and redefine their views on baggy clothing once and for all. usuallly achieved with the effects of soda, either unlabeled or sold in 24 packs.

Shrink Soda

Acts very quickly after the drinker consumes some. Victims of shrinking using this method are doll sized for the next two hours, then rapidly grow back to normal size.

Unfortunately (or fortunately, depending on your perspective and/or fetishes), no method yet exists for shrinking the clothing at the same time, unless one is using magic, which has it's own section elsewhere, or at least should.