Possible? - yes
Practicle? - probably not
Ardour is a fairly heavy application by puppy standards. To run Ardour properly, you need a realtime or low-latency kernel and the jack audio server - I can't imagine that either is available for puppy. Ardour isn't that hard to compile if you can find the requirements. On Puppy I can imagine that you might have to compile some of the requirements - so this is a fairly big project for a self-proclaimed 'dumb-ass-newbie'
I would try xubuntu (7.10 for the time being) - it has all the requirements packaged.