How to display featured product in home page using magento?

I want to add 'featured' attribute set while adding product (dropdown (yes/no)).
On selecting 'yes' the respective products should be shown in home page.
Is it possible ?

How do I put featured items on my homepage?

To place a product on your homepage, add it to the “Homepage” category: click on Category → Category products and select the items you need to display on the homepage. Then click on “save” to make the changes. You can list out your featured products on the homepage.

Please go through the below link to show the featured products in Magento Home page.

http://www.magentocommerce.com/boards/viewthread/84852/

How Display Featured Products - Magentocommerce

It would be helpful to you.