Will the baggy cleavage and fold go away? (Photo)

You are still in the healing process and what you are seeing may not be your final results yet. Usually patients are advised to wait for 6 months post op before deciding whether they are satisfied with the results or not. At 12 weeks, it doesn't seem like the excess skin will improve, but give your body more time to heal before deciding to undergo a revision procedure, which definitely will have shorter down time and heal faster.

You appear to have an excellent result except for the small area of extra skin on your right side.  At 12 weeks it is fairly unlikely that this will settle down on its own.  It is likely to require a small revision to remove that excess skin, this could possibly be done as an in rooms procedure.  Continue to see your surgeon to discuss. 

Congratulations! Your results are not "final" until about 1 year after surgery, although most patients can glimpse the "after" results by about 6 months. For 1 full year after surgery, your body remodels the scars, which means that you can influence the scars during that time. My patients massage their scars with oily cream such as Eucerin. This helps to soften the scar and tighten the skin. If the skin persists after 1 year, ask your surgeon about a quick in-office nip in that area to smooth it out. Best of luck to you!