I just thought if anyone can hack make an addon to vBulletin, so that we can allow users to request to add a new forum if they want to be an moderater, then we approve the request in control panel.
And even great if they can put the single forum on their own personal web pages.

what you could do is just have a board request forum, where all it is for is for people to apply for a forum, and then you just read the posts from there, and decide to do so or not, as for on their own pages, thats not possible
They would have to link to their forum from their site with a link

yeah that's what i do, just add a Forum request forum to my board and i let members request forums and give their justifications for it to be added... members who agree post a reply in support for such a forum and then i add it as i see fit... just added a Gaming forum for Perfect Dark since members play it so much...

I've seen that done at several dif places, I probably will too once my set goes live, if it ever goes live

Yes, I know we can add another forum specially for people suggest new forum.
But Thats not what I want , I want people from every where can apply a single forum from my site, instead of install a whole system like vBulletin.

that is what we said, they go to your Request a Forum board, and in there they say what the want, and why. If you approve them, then you just create a forum and make them the moderator