Yes, it's technically possible to create a different coin with the same name. It will be two separate blockchains and it will work just fine. People or may not have a difficult time discerning the two but that's a different story.
Most of the time small acronyms are duplicate by mistake, it's rare that someone duplicates some cryptocurrency with malicious intent and I don't think that would work anyways.
Exchanges are free to set their own acronyms in the trading pairs should they want to add two coins that have the same official acronym.
So you can create a different coin with the same name on another blockchain ... can you create different coin with the same symbol/name on the same blockchain, like ERC20 ?
You technically can but in order to get listed on ICO websites or even better, on exchanges, you need to show you're a serious project. You can copy and call yourself a coin and steal some funds but people are very fast in finding out these things so make sure you read the official channels ALWAYS.