Step 1: Core Answer.
Yes, a step-up transformer can function as a step-down transformer. This is possible because transformers are physically symmetrical devices that operate based on the ratio of turns between the two coils.
Step 2: The Principle of Reversibility.
In a step-up configuration, the input (primary) is connected to the coil with fewer turns ($N_p$), and the output (secondary) is taken from the coil with more turns ($N_s$). To use it as a step-down transformer, we simply reverse the connections:
Apply the input voltage to the coil with more turns (now acting as the primary).
Take the output from the coil with fewer turns (now acting as the secondary).
Step 3: Mathematical Relation.
According to the transformer equation:
$$\frac{V_s}{V_p} = \frac{N_s}{N_p}$$
By swapping which side is the "input" ($V_p$) and which is the "output" ($V_s$), the ratio $\frac{N_s}{N_p}$ becomes less than 1, effectively stepping down the voltage.