Just a few days ago, Google announced the release of the Chrome OS source code. Tech blogger Jorge Sierra took a   step forward and will explain you how to Run a google chrome OS from a USB drive [like a Linux Live CD] It can land you in problems since its still in a development stage.

Chromium OS may or may not work on your computer hardware. I did successfully run it on two home-built frankenstein computers (with ASUS motherboards), but it did not successfully recognize the network adapter on my Dell laptop. All of this work may be for nothing, if it ends up that Chromium OS does not like your network adapter.[as detailed by adam]

But still its a good tryout project,after all we get to use the chrome in a usb drive.

How To Run Google Chrome OS From A USB Drive [MakeUseOf]