You can cure Turkey breasts and smoke them and slice them, then bake in the oven sliced for 10-15 minutes to crisp devoid of any external fat.
To make variegated white/dark turkey bacon strips would be more difficult. You would have to tear apart, then re-form the meat fibers and create a pressed loaf that would be cured and smoked, much like a loaf of spam. I have studied the composition of it and seen that it is just that, a chopped and formed product. I'm sure not impossible to do, but not easy, either.
It should be noted, in commercially produced turkey bacon, it has approximately half the fat as real bacon, but almost twice the sodium, which can be just as unhealthy.
Might I suggest making your own buckboard bacon; it is much much leaner than regular bacon and you can control the salt content and sugar content too! At the bottom of this post, check out Buckboard in my sig line, you'll see sliced buckboard made from pork butt. I am a 4 time stroke survivor and have to control my fat and salt and sugar content too.