Have you a specific purpose for it, and did it come with an operating system and software? Those machines were sold to run OS 8.6 and today's Macs are on 10.7, so finding software you don't already have will be a challenge. It's doable, but probably not worth it if you don't enjoy that sort of thing. The machine was built with Ethernet and USB, but I expect you'll find only a floppy drive slot, which will complicate getting new software loaded directly. But if there's a functioning browser aboard, there's still downloadable stuff out on the net. Have a look at
Low End Mac.
Depending on the machine and its RAM you may be able to install a newer OS, up the line as far as 10.3 or even 10.4—which is still quite respectable—, but beyond that everything Mac must have an Intel processor and your machine's is a Motorola, likely PowerPC. But as a word-processor, e-mailer or simple photo-editor (for someone who doesn't have to worry about self-image, unlike a student) it could be quite useful and free up another machine.
So it really does come down to what you would use it for. If you think it's got possibilities, fire it up, watch for the start-up screen, and when it's going, open the About this Mac… window, in the Apple menu [ symbol, top left], and tell us what it says about what you've got. If the missing mouse keyboard's proving to be an obstacle, I've found the service guys at Carbon Computing always helpful, and they keep older stuff in their department to sub for the stuff people forget to bring along. That would at least let you see what you've got.