Yes it is possible. The first step is to obtain an instance of new PrintJob class from the toolkit.
This class has method getPrintJob();
PrintJob getPrintJob(Frame frame,String jobname,Properties props);
You can refer the online documentation or any other good book.
As far as applets are concerned, only the applets from trusted sites can access the client side resources, you will have to check out the policytool, keytool available in JDK1.2. On the client side the policy is defined regarding what resources the applet is allowed to use.