I am thinking of learning Ruby since it looks fairly easy, but need to know its practical uses. Thanks ahead of time. d8-)
Ian, if you're familiar with object-oriented programming, and in particular if you're familiar with Perl, you'll have no problem with Ruby. As Abhigyan points out it's primarily used for writing web apps, and from what I hear it's pretty flexible and powerful. I've only used Java though, so I'm not 100% sure about all of the pros and cons of Ruby.
Ruby is mainly used for interactive webapps these days. You could check out the following link for applications made in Ruby.
Also check out the Wikipedia entry for Ruby to find out more about the language.