That instead borrows from horror fiction, most notably the Universal Pictures Wolf Man films of the 1940s. Many of the tropes we associate with werewolves today were made popular by those films, and, in fact, often don't date back much further than the 19th century. In these films, however, as in some more modern examples such as An American Werewolf in London and Harry Potter, werewolves are portrayed as (mostly) tragic individuals, while in Twilight they seem relatively benign. D&D, like many other RPGs, makes them definitively evil although the potential for tragedy is still implicit in their ability to pass on the condition to others.
The connection to the cinematic, rather than folkloric, version of werewolves is particularly obvious in 1E, in which the werewolf is shown as having a form similar to that of the monster in 1941's The Wolf Man. As this indicates, werewolves in D&D transform primarily into a bipedal human-wolf hybrid, a convention of modern films, rather than into powerful, but otherwise broadly normal-looking, wolves as they do in folklore (and Tolkien). We are, however, told that quadrupedal "wolweres" also exist, being born as wolves and only later transforming, and that the two types of being regularly live side-by-side in the same pack.