We had some usual company bollox training at our place and this guy came in showing us how to do this after getting us to write proper instructions on how to do it... Fookin mint it is !!!
Soon as I left the course I'd forgotten it... nice reminder though (although I'm strictly a polo man myself and prefer hangers) :-)
I don't like that way, both the arms should be 'behind' the back of the shirt when folded so when you pick the t-shirt up one of the arms doesn't dangle around like Peles' pecker.