Is it possible for an AppExchange package to create a custom list of custom fields?

I have an AppExchange package that would ideally create a different set of custom fields for each customer, depending on configurations that either the customer sets at package installation time or elsewhere in our own system. For example, let's say each feature requires a custom field; one customer might only need features A and B, while another might only need features B and C, and if we have hundreds of these features for our customers to choose from, we wouldn't want to create hundreds of these custom fields if they're only going to select a handful.

Is this possible? Thanks!