I can report that maple trees can inosculate. Not all trees are known to be able to do it. I wanted to do something interesting with my baby tree and braided it as it grew the first couple years. To get started all of the branches were pliable enough to quickly form a single unit but one branch bent away from the center before joining the others. It looked like a big enough gap to be permanent but now I am not so sure. If I'm remembering right, this tree is 5 years old, maybe 6. It grows where it sprouted. I used pieces of steel wire from a roll (like for hanging pics) to hold the branches together at different spots, changing over time, so they would stay in position until inosculation occurred.
You can see the gap and the "braid lines" on the trunk.
Be ready to guide and shape often the first few years. I left our roof ladder propped next to this tree so I could mess with it constantly. After that, you're going to have something too big and tall to play with. I'm trying to do as much as I can with the puny little branches that are still trying to grow below the canopy. I have no idea if that will yield any more long-term interest, if any will be yielded at all. If nothing else, the tree does go straight up and does not start branching until it is well above the roof, which is what I wanted for deciduous shade on the roof.
For more information, investigate the terms arborsculpture, pleaching, pollarding, and espalier. These folks can lead you toward trees capable of inosculation if your first-idea subject is unlikely.
In regard to bonsai, inosculation is a very useful tool to relatively immediately morph three (or more) smaller branches into what looks like a much bigger "lobed" trunk, either braided or straight. This can help avoid the drastic transition and pruned appearance from trunk to branch that can occur as a result of pruning. It's usually easy to spot where a cut was made a one or more new branches grew. The transition of inosculated trunk into branches could maintain the correct proportions and look more like a shrunken tree. A branch can also be added to a bonsai using inosculation.