Would this USB miner work for peercoin?

Would it work and is the hashing rate be similar to the advertised hashing rate?

yes it would work, but it is not profitable, it is more like a gimmick to see how it works. With 5 Ghash you would get 0.6867 PPC annually at current difficulty

Where/what calculator are you using to get that number? I was planning on setting up an raspberry pi rig with 24 USB miners at first and then depending on profitability, setting up a few more rigs