Is it possible to have folders with 777 permissions?

Sometimes it is required that certain folders have 777 / 666 permissions in order for PHP scripts to be able to write inside them.

This is especially true for cache / uploaded content folders. There is no problem to set the permissions of such folders to 777.

However, if a PHP script has Write permissions for Group / Others, it will give an error because of our special PHP suEXEC setup.