+6  A: 

Yes it is possible: Here's a link showing how to do it: http://en.csharp-online.net/Visual_Studio_Code_Snippets%E2%80%94Creating_Snippets_Manually

Here's the official page on MSDN: http://msdn.microsoft.com/en-us/library/ms165392(VS.80).aspx

Alfred Myers
+3  A: 

Sure, I use this tool.

http://www.codeplex.com/SnippetEditor

Steve