Retired Community Manager -- Banned from Texas by popular demand.
Join Date: Sep 2007
Location: NYC
Posts: 8,142
Yes, there's a whole page on Fedora project about it, as well as a sticky by Sideways about it on the forums. One can also use Unetbootin to create the flash drive.
I did it, and the only way I got it to work was using Unetbootin. I had a lot of trouble, though, but in the end it was probably related with some errors in my partitioning. Anyway, it's very easy to do it using Unetbootin.