It seems probable, as the achievement with the saddle and the riding a pig comes directly from the Leather achievement. I wouldn't be surprised if you can now, but if you did I would think it would be very similar to the Mo's Creatures Horse Saddle.
The Wiki says that saddles can only be obtained from dungeon chests. So that's how you're gonna go around getting them for now.
it's a rumor. you cant craft saddles. you can only find them in dungeons.
I'll tell my misguided friends this. I was at my friend's house, and he thought that you could craft it (the video was using Mo' Creatures) and he thought that MoCreatures didn't have any effect on it. Blah.