Is it the version with the USB interface or just the plain vanilla Xenyx?
If it has the USB output then you can use it as a 2 channel interface into your computer.
If it doesn't have the USB output then you'll still need to buy an interface. You could use the Xenyx if you wanted (for example to set up a monitoring mix between live audio and recorded tracks) but it doesn't give you a lot in terms of extra functionality. To use the Xenyx with an additional sound interface, you'd route mic-Xenys-interface-computer and (if wanted for monitoring) bring the outputs from the interface into spare inputs on the Xenyx.
I have a Behringer 14 channel mixer {it's not USB} and I use it for drums. It does the biz.
However clutterful and convoluted, every piece of equipment works. It's just that in many cases nowadays, the fiddlesome nature of many mixers can be bypassed by a DAW.