Would it be possible to engineer a living being from the ground up?

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Let's think about this using a metaphor: making a small figurine. One could use clay and slowly shape it in the desired form, and this would be the approach that evolution takes. It is slow (by human standards) and there are many inbetween steps.

On the other hand, one could create a digital model of the figurine and build it with a 3D printer. This skips all of the intermediary links, directly reaching the final result.

Is this something feasible in a real life scenario? Could we change the structure or DNA of a zygote and have it become an entirely functional, new animal?