I believe bass drums use a plywood frame, so yes, it would absolutely be possible to do that! If you want it to look like a bass drum, build the enclosure inside then re-skin the drum (you can shoot a port from a 4th order/bandpass setup right out the bass drum port).
If you just want a running start on a round subwoofer box, take all of the metal bits and skins. This would leave you with a plywood circle and you just add caps to the ends and go from there.
All depends on what way you are going with it; good luck on the project!