It is known that a burr of a blank produced by sheet metal shearing falls off during a subsequent process and causes problems. The authors became interested in this problem and carried out deep drawing experiments using a blank with a stepped edge as a substitution for burr. As a result, there was no rupture at the blank edge, but the stepped flange edge wrinkled regularly depending on the design of the step. The authors considered this deformation to have a new industrial value, for example, the structure of the waveform is effective in bonding at an insert molding. Therefore, we decided to examine the fundamental characteristics of this wavy deformation. Furthermore, we thought that the numerical approach to this deformation may provide a hint for elucidating the burr elimination problem in the actual process. Hence, FEM analysis was also carried out to obtain the damage value and maximum principal stress, and the possibility of fracture was discussed.