A classic window treatment is a swag and jabot valance. But in the classic version, the swags usually have rounded edges. A new twist on this timeless treatment would be to have the swags slightly pointed and the jabots a softer, gathered look. I think this adds a contemporary feel to a traditional swag treatment. The swags still drape beautifully since the fabric is cut on the bias and the jabots flow softly under the swags.
In this particular picture, the swags are “thrown” over a rod. That is what looks like happened but in fact they are very carefully cut, sewn, and draped to give that “thrown” look. …which adds to the contemporary look. The rod can have the finials and pole wrapped to match the fabric or they can be iron rods coordinating with other elements in your room.