You can easily share an internet connection between the two machines or transfer photos, music and other files from one computer to another.
Things you need:
1. Inexpensive Ethernet crossover cable
2. Network cards (Also known as LAN or Ethernet cards) - should be installed on each of your computers.
How do you do this?
Step 1: Connect Computers with an Ethernet Crossover Cable.
Note: Before connecting the two computers with a physical cable, make sure that both machine are using the same work-group. Here is step-by-step guide that explains how you can change the workgroup of your computers.
Step 2: Changing workgroup
Open the Control Panel, type “Workgroup” in the search box, and select the entry that says “Change Workgroup Name.” Click the “Change…” button, enter a Work-group name and restart the computer.
Windows 7 users can skip one step; simply type “Workgroup” in the search box in the start menu, and select the first entry, then proceed as above.
Now that the workgroups are same for both computers, connect the two computers together using the Ethernet crossover cable. Simply plug-in one end of the crossover cable into the network adapter of Computer A and connect the other end of the cable to the network adapter of Computer B.
Windows will automatically recognize the new network, and you can now easily view files and folder that the other computer has shared. Simply open Networks from the Start Menu (or the Control Panel), and you should see the other computer by its name. You can then browse any shared files on the other computer, and can even utilize shared printers.
Step 3: Share an Internet Connection Between Two Computers
Open Control Panel, enter “network connections” in the search box on the top right and select “View Network Connections.”
Right-click on the network connection you wish to share (this must be the one connected to the internet) and select Properties. Select the "Sharing" tab and then check the option that says “Allow other network users to connect through this computer’s Internet connection.” Click OK, and the other computer you have connected to this Windows 7 or Vista computer should have internet access now.