I believe it was a pottery project which may have been done in a ceramics class. This is where one would pick a particular already formed greenwear piece and decorate and glaze it before it is fired in a kiln. The etching on the bottom was scribed in the soft greenwear before it was fired, most likely by the person who did this project. This is a picture of just a sample of greenware patterns that have yet to be decorated and fired. As for the value it really wouldn't be a whole lot imo.