Made my own DIY CO2 system for my planted aquarium using yeast, sugar water, airtubing, and voss bottles! YES!
I run a airstone into a prefilter sponge, that way the bubbles stay trapped a lot longer for exchange. I have good flow on my tank so I'm not worried there.
I have yeast sugar slurry in one bottle, the natural co2 pressure build up forces it through the airline hose-stone-sponge. No compressor necessary: ) dry ice would burn too fast I imagine. I redo my yeast once a week. I also keep a co2 dropper to measure levels in the water so I don't gas my shrimpAh... Carbon dioxide is heavier than air and you can keep it in an open bucket just put the air pump inside to deliver it to the aquarium.
You can use a plain old air filled balloon to check the CO2 level as well. It will float on top. That way you can test your CO2 production levels.
I imagine you could also do this with dry ice...