Yes, you can make a feather stick out of wet wood since it’ll still curl when your knife passes over it. However, depending on the thickness of the curls you might have an issue trying to start it. If you’re using a BIC lighter then it'll have to dry the curls out. Once they're dry the feather stick will light but if won’t progress down the stick since it is still wet. Trying to start a feather stick with a ferro rod while it's wet will be a problem as well since the sparks will have a hard time igniting the curls you made.