Never tried it. But you'd have to pull the dark slide tab and each successive tab in darkness - I think this would be a hassle with a pinhole camera.
The dark slide tab protects the pack as it's inserted into the (Polaroid) camera. When you pull the tab, the first sheet is facing the lens, ready for exposure. After exposure, you pull that sheet's tab, which sandwiches it with the print surface as it moves towards the rollers. On ejection, the next sheet is ready for exposure. I don't see how you can duplicate this process in a pinhole camera and have the rollers in a separate camera.
100-series Polaroid cameras can probably be found for a few dollars. My Polaroid Super Shooter produces stunning photos - it was $20, but it'd been checked out, refurbished, and sold to me at a retail store.
More interesting might be if Instax film can be adapted to an excellent camera with controls like the Polaroid 195 or 600SE.