It does exist and isn't a full featured emulation. OSX doesn't work. I believe OS9 did though. Screens were way slow. Stick to Fusion if you need a Mac Emulator.
If you need something a bit faster you'd be better off buying a used iMac or PowerMac off of Ebay then expecting much out of FusionPPC.
FusionPPC is nice to play with, too bad it's not better.