Is it possible to create a SkeletalMesh out of StaticMeshes within editor?

Hey ,

This isn’t possible within editor. Typically, your skeletal mesh would be created in an external modelling program, and each element of mesh would be linked by a bone structure in that program and then imported as a single FBX.

You can read up on process here:

https://docs.unrealengine.com/latest/INT/Engine/Physics/Vehicles/VehcileContentCreation/

Best,