Can you create you, your own Home Study program ?

If you are in the United States, it may depend on the state you live in.

In TN for example you can but there will be restrictions on level of education of the parent doing the teaching, and the student will be required to take and pass standard education testing given by the school

Some of the Home Study programs from various groups, may also be accredited, so they allow more ease in some legal areas.

This link will also provide you some info on various state laws and is a good legal group esp in some states where the state is against home schooling. http://www.hslda.org

I agree... it would depend on where you live.