Yep, like putting a screen over the shop vac exit port and then sticking the hose into the exit of a nest. Once all the wasps, yellow jackets, whatever are in the tank you just shut off the vac, close off the hose, and spray in a little bug killer. Caution is advised to avoid sparks from the motor igniting the bug spray...
I saw a couple of flaming arrows made from kerosene soaked rags tied onto target arrows work pretty effectively on a large paper hornet nest once. That was kind of fun too.