The prerequisite is that you have a network card installed in each computer and you've connected them either using a switch or directly via a x-over UTP cable.
Once the above is complete, we need to head towards the PC that will be connecting to the Internet. Open the dial-up connection and hit "properties." From there select the "Advanced" tab and tick the "Allow other network users to connect through this computer's Internet connection."
This will enable the Internet connection sharing on the XP machine.
Next on the same PC, right-click on the "My network places" icon located on your desktop and select properties. Double click on the "local area connection" icon and select "Properties." Scroll down to the "Internet Protocol TCP/IP" protocol and double click on it. Configure the following settings for this PC:
IP Address: 192.168.0.1 Subnet mask: 255.255.255.0Leave all other fields blank and hit "OK" twice to close the new windows and finally "close."
At this point, we need to visit the second PC and configure its network card. Please follow the same steps as outlined above, but enter the following details:
IP Address: 192.168.0.2 Subnet mask: 255.255.255.0 Gateway: 192.168.0.1 Primary DNS server: 192.168.0.1All you need to do now is try the Internet connection sharing and ensure that it's working. If you have followed the above steps, you shouldn't have any problems.
All that's left now is to share your printer between the two computers you have. For this, I would redirect you to Microsoft's step-by-step instructions, complete with pictures on how to successfully set it up. It's quick and easy, so don't hesitate to try it!
Best of luck.