I wouldn't have thought it a good subject for bonsai, given that it dies back every year and is classed really as a sub shrub, not even a woody shrub, and surely with bonsai, you need a woody framework, like you get with a proper shrub or a tree.

I have seen a Fuchsia bonsai in the past but it was either the small flowered species F. riccartonii or F. magellanica that was used.

Bonsai is right in that if left outside, there would probably be too much die back. The specimen I saw would have been overwintered in cold but not frosty conditions.

Actually, look at the following link (copy and paste into your browser). It's quite an interesting blog about it.

http://www.bonsai4me.com/AdvTech/ATfuchsiaprogression.htm

The simple answer is yes you can bonsai a Fuchsia.
Bonsai simply means plant grown in a pot.
I've seen trees, shrubs, herbs, grasses, bamboo (yes, I know bamboo is a grass), and rocks as bonsai subjects.