[perezfan]

I would personally leave it as-is. Those types of creases are common and expected. To me, they do not detract from the beauty of the piece.

But if you are hell-bent on reducing the creases, you can try ironing it from the reverse side. I would use low-medium heat, to start. I would also place a thin towel or sheet over the item, so there is a "buffer" inbetween the face of the iron and the piece itself. Don't leave the iron in one place for more than a second, and keep it moving. Do this a tiny bit at a time, as you cannot re-do it, and better safe than sorry.

The procedure I described above works amazingly well on vintage pennants that are creased/wrinkled. It's never failed me. It's your call, if you want to try it with this item. I would not attempt it, as the white "base" surface would scare me. We have all seen white handkerchiefs with that browned/discolored look, from being ironed for too long or under too high a heat. That's what I'd be most afraid of... best of luck, whatever you decide upon.