I don't crochet much but I think it would work, you will have to consider the size of the crochet stitch, some stitches are more like a tall rectangle then a square so you might see some strange elongation of your image. Try it and see.
I'm knitting this right now with a plan to frame it and hang it up like a picture. I just put out an updated episode where I talk about all my color choices and show off the yarn for the project.
I've been using KnitPicks Palette because it comes in a lot of different colors and is pretty afordable. For this project I bought a large pack of minis.
