In general, you can drift anything. Drifting just means the car is moving in a different direction than where the tires are pointed. Rear wheel drive cars are better for drifting because the steering tires (front) are decoupled from the driving tires (rear). This means you can directly control the amount of traction being used by the car for turning with the gas pedal.
Each tire has a finite amount of grip, and that grip can be used to accelerate the car forward, brake, turn, or some combination of those things. Once all of a tire's traction is used up, that tire can't do anything else. For example, if you do a burnout with a RWD car, the back end will feel very loose because the rear tires have no traction left to resist the turning forces of the front tires, because all of it is being used for forward acceleration.
A front wheel drive car uses its front tires for steering and driving, and will generally understeer when more power is applied, because no traction is left for turning the car. I guess understeer is a form of drifting, but it's not particularly exciting.
--Andre
