This is a derogatory term for the elderly, particularly those who are senile.
When an elderly, or "old folk" is driving 30 miles an hour UNDER the speed limit in the passing lane on the highway with their left turn signal on, this person is classifying him/herself as a wrink.
A: "This car smells like a damn wrink died in it"
B: "Yeah, I had to drive my grandma to the airport..."
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