Sure. One way (easy) is with Ulead's DVD Movie Factory (about $40 street) The name is somewhat misleading. It also creates MPEG-1, MPEG-2 on CD-RW or CD-R formats including a menu system similar to chapters on DVD's. Free fully functional demo at the Ulead site. Also checkout vcdhelp.com
Yup - I use MF. It's easy and and a joy to use. However, take BilyBoy's advice and check out VCDhelp to confirm if your DVD player can read/play the various "burn" options from MF. Also, MF burns onto CD platters but will only get up to sDVD.