Eu tenho usado valores de spinner de XML-arrays até o momento:

Spinner karant_sp; 
karant_sp = (Spinner) findViewById(R.id.spinner1); 
ArrayAdapter<CharSequence> karant_adapter = ArrayAdapter.createFromResource(this, R.array.karant_list, android.R.layout.simple_spinner_item);
karant_adapter.setDropDownViewResource(android.R.layout.simple_spinner_dropdown_item);
karant_sp.setAdapter(karant_adapter);
karant_sp.setSelection(0);
karant_sp.setOnItemSelectedListener(new select_karant());

Posso usar um java ArrayList-String local como a lista de itens a serem exibidos no menu suspenso?

Algo como:

Spinner karant_sp; 
ArrayList<String> return_likes = new ArrayList<String>();
return_likes.add("Hello");
return_likes.add("world");
karant_sp = (Spinner) findViewById(R.id.spinner1); 
ArrayAdapter<CharSequence> karant_adapter = ArrayAdapter.createFromResource(this, return_likes, android.R.layout.simple_spinner_item);
karant_adapter.setDropDownViewResource(android.R.layout.simple_spinner_dropdown_item);
karant_sp.setAdapter(karant_adapter);
karant_sp.setSelection(0);
karant_sp.setOnItemSelectedListener(new select_karant());

Eu sei que o código acima não funciona, mas gostaria de saber algo que funciona usando ArrayList-string.