I'd say I can, but only from my belly nozzle, it'd be more of a wide cone of effect than a bullet, and I probably wouldn't have the greatest control over it I'd say, especially since the additional pressure will cause the rest of my body to expand!
...I probably also could in a more precise way if you poked a hole in, say, my paw or something, but the problem with that is I can't easily close it up :P