Static Mesh creation pipeline
Static Mesh creation pipeline is done outside of the editor using 3D modeling tools such as Autodesk's Maya and 3D's Max. Unreal Engine 4 is compatible to import the FBX 2013 version of the files.
This creation pipeline is used mainly by the artists to create game objects for the project.
The actual steps and naming convention when importing Static Mesh into the editor are well documented on the Unreal 4 documentation website. You may refer to https://docs.unrealengine.com/latest/INT/Engine/Content/FBX/StaticMeshes/index.html for more details.