Yes it is and it's called a data source. The book comes with a complete example of how to talk to a foreign API using a data source.
When you implemented the data source for your API you can use it with any model (configure it to use the data source) and simply to read(), save() and find() calls.
There is also a repository with data sources for CakePHP, not including instragram but you might want to have example implementations to look at.