failboat :
phone wires have two twisted pairs. you can probably get a 100Base-T going, assuming the other end is near your router. If you are really lucky they used cat5 (4 twisted pair) and wired it to a phone jack. If it's coming in from the ISP then it's not going to help you out. Good luck finding the other end.
If the wire wasn't secured through the wall you might be able to pull some cat5e through using the phone line.
This.
However, most 4 wire phone cables have horrible shielding. It *may* work if it's quality cable, not a long run, and you crimp a network connector on both ends (same colored cables in pins 1, 2, 3, and 6 looking from the contact side). It also may not work. Better option is to run a network cable.
Also, I'm assuming that you know a little about networking/computers and aren't expecting an actual phone line (hooked up to dial tone) to magically turn into a network cable just by crimping a jack on one end. (sorry, can't be too careful with assumptions
)