I have done this many times
Since I was a small child I have always had this thing for soft materials, especially the look and feel of satin. After my divorce I realized that I needed to find a new way to masturbate and a satin slip would be just the thing. I went to the store and checked out the slips there and finally found one by Christian Dior which was so soft and smooth I got an erection before I left the store. In the car I touched the slip and thought about what it would feel like on my cock. When I got home I showered, put on one of my favorite XXX Movies and laid on the bed with my new slip. When I wrapped it around my cock I thought I was in heaven. The feeling on my cock and my hands was wonderful and soon I felt those balls tighten and I knew that I was about to unload. I had to make a decision, move the slip and cum on my hand or shoot it into the NEW slip... I chose to shoot it into the slip and that felt like one of the best orgasms I had ever had. Soon I was going shopping for a new slip and within a year I had quite a collection. I have also used panties to masturbate, but a slip was so much nicer.