Yes, it is certainly possible. Bondi iMac (233 MHz) takes two SO-DIMM memories,
of the PC100 type, one of which must be low-profile (circa one inch high)
while the other may be high-profile (two inches).
Apple only tested this
machine with the available modules at time of manufacture, which included
256M high-profile and 128M low-profile, so the official recommendation
for maximum memory was 384 MB. After a few years, though, low-profile
SODIMMs were available so that (with non-Apple modules) the early iMac
machines could take two 256MB modules, for a total of 512MB.
There were variants in later years, and some similar-looking
iMacs could take more memory, of PC133, but the original Bondi
233MHz iMac models required the organization variants that matched
Typical memory offerings distinguished (and charged extra) for the
low-profile 256M variant modules archived memory advertisement