I have a Windows 7 Laptop.
I have a 16GB HP Flash Drive

I want to install OS X in my Flash Drive

I want to plug and boot OS X in any system with my Flash drive.

Expecting guidance and Step by step procedures

hi there,
It has been a lots of tutorial here and there and everywhere..just browse and read..
Now, i can give you the basic thing :
-get a distro, use the disk utility in it to format your usb for osx installation,
install the osx with a bootloader + kexts for your hardware +patches.

For 'boot OS X in any system' part, i am not sure what it means..
are you refering osx as a guest os?
but if you install a bootloader, you can choose which os/disk to boot (i know chameleon bootloader can do it)..

So, search ,read some tutorial, try it and come back here with the panics
goodluck.