I've attached the an8 file (zip) at the bottom.
Front view -> object edit mode -> wireframe view
Drag selected the last 4 rows of points and moved downwards, (Y), incrementally, so that the 1st outside edge was the lowest, 2nd edge slightly higher and so on, as you'll see in the file. (build -> morph targets -> fold
Then, check out the keyframes in scene mode.
Also, check out the figure in fig mode
Hopefully that will all make some sense.
I name my morphs slightly differently than
RudySchneider, but obviously, either way will work.
The way i set my morphs is probably best explained by this old vid.