I've done it. When I was in High School and just starting to fly fish, my granddad had this floating dock on the Kissimmee River. There were weed beds along the banks. There was this little gator, maybe 3-4 feet that hung out there. I was fishing for gills with an orange rubber spider on a glass seven weight (I still have the rod) and there he was. I figured "What the hell" and dropped that spider in front of his nose about three times and BAM! He pulled and I pulled, he took some line then rolled and that was it. It was fun, but I wouldn't make a habit of it.