You guys are talking about using the wrong OS to virtualize the other wrong OS. The question was to virtualize OS X on a Windows Machine.
Here's the correct and legal answer: No.
Here's the illegal but technically possible answer: Yes.
Legally you're only allowed to run OS X on Apple hardware. However, with the right "PC" hardware, you can run OS X that's been slightly modified or you can download a PPC emulator to run an older version VERY SLOWLY. Just go buy a super cheap Mac on ebay. You can get a decent G4 or G5 for only a couple hundred.