What Can I Do About a New Fold in my Eyelid? (photo)

Surgery would be the the most satisfactory and permanent solution for the extra skin in your eyelids. Creams can't resolve that degree of skin laxity. A ptosis repair and possible upper blepharoplasty would remove the extra skin that's apparent in both your eyes, plus make them look more symmetrical. I hope this helps.

A combination of factors are in play here:

Mild right upper eyelid ptosis [droop] with a resultant brow recruitment to compensate. This makes your right eyebrow slightly higher.

Furthermore, as we age, we tend to lose volume in the brow/eyelid region which also deflates the eyelid skin, leading to more lid creases/folds.

Consult with an ASOPRS trained Oculoplastic surgeon would be helpful.
See link below.

Thank you for your question and picture. While upper eyelid blepharoplasty (eyelid lift) is the definitive answer, you can try Botox to elevate your brows and lift some of that skin as well as give your brow a better arched shape. Best of luck. 

The problem is not the fold in your left upper eyelid but lack of fold in the right upper eyelid, which is due to droopy right upper eyelid (ptosis) which causes for eyebrow to be higher on the same side in order to help lift the droopy upper eyelid, which causes the upper eyelid skin on that side to be stretched and less obvious than the good side.  The treatment would actually be right upper eyelid ptosis surgery.  See an oculoplastic surgeon for evaluation.

 The photographs show asymmetrical eyelids including brow position, eyelid position and fat in the upper eyelid compartments. Surgery would be the only option to make these  eyelids appear more symmetrical. There is no creams or lotions that will make this look any better.