Yes, I bunched up a tunic style dress that's a bit too short for me (must have shrunk in the dryer, who knows!)...
It eased up the creases far more than even just laying it flat at the hotel.
ReSee
sells pillows for Chanel Classic Handbags, however, I think an old t-shirt or two that are arranged in a specific way to minimize the creases would probably work better to be honest (cheaper too!). Avoid putting too many in case it stretches your bag too much, it should still be able close without any force... and definitely do this at your own risk, what worked for me may not work for you!