Why do you ask?

Ribbon coursing has been used since the Arts & Crafts movement but it's usually for shingles and alternates one small and one large. The siding usually wraps the corners (no corner boards) so the ribbon is continuous which is very elegant.

I suspect it would be difficult but not impossible with flat (untappered) lap siding if the coursing was not too small but alternating 1 wide and 2 medium planks looks random and not immediately intentional.

This is an idea that might not work well with a tight budget. A fiber cement siding that can wrap the corners is the Hardie Artisan collection.

SmartSide