During multiscale modeling and analysis of composite materials, accurately capturing the distinctive microstructural features of the material is essential. This is achieved by generating a representative volume element (RVE). Fiber reinforcements in composites can exhibit various shapes, including straight, slightly wavy, or complex shapes, depending on the inherent properties or the manufacturing process. Fibers are characterized based on their tortuosity, spread, and orientation distribution. It is crucial to account for these geometrical attributes during the microstructure generation and subsequent micromechanics modelling as they significantly influence the effective properties of the composite. The present work describes a novel algorithm capable of modeling a broad range of 3D periodic microstructures with fibers having random waviness. The effects of various parameters in the algorithm are studied to understand their influence on fiber shapes. This is followed by finite element analysis of the generated RVEs using the embedded element technique to quantify the microstructure- mechanical properties relationships. Finally, guidelines on the usage of the proposed model to generate fibers with desired microstructure is elucidated. A comprehensive framework for modeling and analyzing microstructures with complex fiber geometry is outlined.