Why not? A shelf doesn't have to be a boring piece of wood. I found these chairs at a thrift store, painted and re-upholstered them, and hung them on the wall. This high-end shoe boutique I designed needed a unique way to display their wares, and I thought this was as good a way as any.
The chairs are mounted on the wall (find a stud to ensure they are safe) using L-shaped metal brackets. And if you plan on hanging up a chair of your own, enlist some help. I tried to do this myself and it was not easy. Wouldn't this idea make for a great night stand?