I think 12 foot high curtains is way too much for a studio apartment! The best solution would be to find a canopy bed. You can get an inexpensive version at Ikea. Then the curtains will be a normal height and look very nice. Here's a picture of the HEMNES bed by Ikea, for example.

Thanks for your response! I'm afraid that a canopy bed will make the room feel more crowded and I was hoping to just get a regular bed or a platform bed so that I can use it in the future if I decide I'm over the canopy. I've seen people use a rectangle frame made out of pipes or a similar material and then hang the canopy from that. Do you think that would work if I hung the frame lower than the ceiling height with wire or something?

Here’s a great idea. You can use Metal Ceiling Mounts and Canopy Curtains, as illustrated in this photo.

Great, thanks Tina! And you think those would look ok for 12 ft ceilings?

allierue, that sounds like quite an ambitious undertaking. You'd have to get some scaffolding to safely access the ceiling and drill into the structure with strong hooks to support the weight of the suspended framework as well as the weight of the fabric. And visually it will take up just as much room as the canopy bed from Ikea, if not more! Maybe you'd like a modified canopy effect at the head of the bed only? Here's one that's maybe a little more elaborate than what you want, but it shows how you can shrink a canopy and still have a nice look.

Thanks for the help! I like these two examples where they just have the fabric at the head of the bed, although the colors in the second one are a bit heavy

Actually, you can hang a light curtain fabric from the ceiling draping down in a canopy design, using a staple gun and still achieve a desired effect. Yes, it will take using a ladder of some sort to accomplish this but the end result, you will love. Either way, there is a bit of work to be done, unless you get a canopy bed, in which you’ve stated that you are not interested in. I’m giving this advice because I’ve done it myself and it looks beautiful even in a non spacious space…. Whichever design you choose to go with, make sure you use light colored tone curtains as it will give you that airy beach feel you’re looking for. Good luck!! “Digital Imaging by Tina”

Tina, do you mean something like this? Thank you again for the suggestions!

You're welcome!!
Yes exactly, that will work as well.
Do you see the layout of the illustration you’ve posted? The supporting strings look as if it’s joined to the walls. Well you can also mimic the way the curtain hangs and staple each end, middle and corner parts to the ceiling giving it that same draping design. If you really want to be fancy, after creating your desired effect, take another curtain and create a layered effect all around the top perimeter of the canopy to give the look a dramatic feel. See photo I’ve illustrated. Now you have options; either by stapling to the ceiling or to the walls as it appears in your photo. Good luck! Let me know how it turns out for you. Houzz-“Digital Imaging by Tina”.