There are a lot of different variables in doing this, and it requires a lot of setup.
If you are trying this with windows, the only thing you can boot "off the network" is the installations... look into "Remote Installation Services (RIS)". If you want terminals, look into WindowsPE (Preinstall Edition).. it's a program you can use to make a Windows live-cd that you can use to boot workstations. Beware that you will lose all effectiveness of domains and SIDs, since they will be duplicated between systems running the disks.
On linux, you can build a bootserver using RARP, DHCP, TFTP and NFS (you'll need to know all of them fairly well before you try it). You can either have an installserver, which could serve Kickstart images and packages, or a full OS loader.
Basically, when the terminals start up, they must have a PXE-capable NIC and BIOS, which sends out a RARP, which the RARP server replies with it's IP address. Then sends out a BOOTP request for the "nextserver" to the DHCP server, which will point at the tftp server that gives the kernel and necessary bootfiles. Once the system is up far enough, it NFSmounts against your NFS server, and has the rest of it's filesystem there.
It is very possible to do what you say, but your hardware must support it, and you must have the time and patience to set it up. YOu must also have the network infrastructure to back it... everything you would do that is I/O related would now have to travel over the network... this means that there will be lots of network traffic. If this is for an office, expect your network to come to a screeching halt at 9am when everyone comes in and fires up their computers.