Absolutely. Until SONY and Microsoft change their policies Bethesda's games may remain the only ones that receive mod support on consoles.
As for the OP.... It's a single player game. As long as what you're doing isn't criminal (I.E. Sharing the game), you're pretty much free to do what you want with the game. Modding was happening far before it ever became "mainstream", it's always been one of the advantages of PC gaming.
With that said, mod hosting sites will have specific hosting content rules. So if you plan on making your own and want it hosted make sure you follow their rules.