It might work as long as the insulation can take the voltage supplied by the CDI. You might encounter arcing to any metal surface if it can't with the result being loss of performance.
High voltage leads (spark plug wire) has very thick insulation surrounding the conductor for that reason. To contain the high voltage current. Too thin and the current will look for the path of least resistance and 'jump' to it rather than the gap at the spark plug.
Tom