Turning one's hobby into a source of income is a dream for many. In order to be successful at it though, you have to budget your time just as with any other job. When you enjoy what you do, it doesn't seem like a job.
Along with creating your art, you will also have to market it and keep accurate financial records...all the tasks that go with a small business. Keeping records isn't that complicated; just be sure to keep all receipts for purchases related to your craft. If you will be working from home, you will also be able to claim a portion of your household expenses (rent, mortgage, utilities, insurance) as a business expense. Also keep accurate records of income from pieces sold; this way you will soon be able to tell if your craft is paying the bills or if it is simply keeping you occupied.
In today's world of internet, it is relatively easy to showcase your crafts. Sites such as Kijiji, ebay, etsy, and InfoMall are all reputable places to advertise your craft. Some are free, others charge a nominal fee. (If paying a fee for advertising, remember to keep your receipts.) Also don't forget about the traditional Flea Markets, Farmer's Markets and Trade Shows.
The answer to your question...yes, provided you produce quality work and have some basic business skills. Good luck and may your business prosper!