It'd be a shitshow unless you're incredibly competent, great with opsec, and don't annoy anyone here. Think about it like this - if it's a Kiwifarms ARG, you only have two choices of approach:
1. Keep it entirely on Kiwifarms. Without access to any funny admin tools (which you will never get), you'd be very limited in options and it would likely get stale.
2. Use exterior methods - other websites, IRL things people can visit, etc. If you do that, you're immediately producing a trail that people can use to identify you - which will inevitably happen. You really wanna risk your epic Cicada 3301 knockoff outing that you're into cartoon characters farting? Probably not.
Also, now that you've asked, even if you never did it, anyone who's read this headline will consider it possibly showing up at some point and even if they didn't use your name, it'd be associated with you and thus anyone who disliked you would probably take umbrage with it.
And the even shorter answer:
ARGs are fucking gay