Yes you can. You need to hunt larger animals with a bow weapon. It is a rare chance, but leather does drop from them.
Just had to deal with this myself a few minutes ago, you need some kind of hunting weapon (bow, maybe the hunting knife) and to go kill some of the wild creatures (possibly the bigger ones as SivCorp said?). I was using crossbows to do that, although I noticed that while my freezing crossbow didn't do it, but my generic arrow/bolt crossbow DID yield leather. I don't know if that's a coincidence or not. Edit: I was hunting on an ice planet around a frozen star.
i killed like 50 and it didnt work, but iw asnt on a frozen one. i heard before it was on an eccentric cold planet someone got it, so i guess il go with that. thanks.
alright, i was already using the hunting bow before, but now on a frozen star after 5 minutes i found leather, thanks for the help. i think you can only do it from frozen stars or fiery possibly from my experimentation.
I found mine on a Frozen Star, so I don't think that's it. I'm sure the community will narrow down the criteria for getting it in time (I was under the impression that a lot of the spawn conditions for materials and such are based on planet threat level).