Like Susie said- it won't be a clear soap, but if having a more opaque soap is not a deal-beaker for you, I say go for it. Just remember to use KOH instead of NaOH.
One of the other GLS liquid soap formulas I make contains 20% cocoa butter, 5% shea butter, and also some straight stearic acid (as well as the usual suspects of castor, coconut and olive oil), and it makes an incredibly lovely, opaque, creamy liquid soap that in the end has a superfat of somewhere around 7%. I posted the recipe and process for it here. It's a tiny bit more involved than the 100% clear GLS formula that I make with 65% olive oil, which Susie just linked to above, but it's still very easy to make.
IrishLass
Thanks for the info. I don't care if it's clear or "dirty swamp water" as long as it has the same skin-qualities as my bar soap. It took a while for me to figure out what is "perfect" for my skin in a bar of soap. If I can translate that into a liquid soap, that would be great for times when a bar of soap is inconvenient but a foam or standard pump bottle would be appropriate. BTW: Cathy from Soaping101 taught the GLS method yesterday. I ended up buying "Liquid Soapmaking" by Jackie Thompson today. I'm hoping it will help. Bad news is there's no Kindle version.