Possible, but risky.
You would need to remove all of the bark, and the branch would have to be completely dead and dried (absolutly no sap in it).
The next issue is getting it watter logged (meaning that it will sink) otherwise it will just float around. That can take days ... or months.
For cleaning, it would need to be boiled and scrubbed a few times. But even so, fungus spores can survive that and no amount of cleaning or scrubbing will get ride of it.
The best driftwood I've ever seen and used is Malaysian Driftwood.