No, that won't work with your printer. That's just a way to give a pc an ethernet adapter.
For one thing, you wouldn't be able to install the drivers on to the printer to get it to work. The second problem is the usb connection is designed for the pc, not the block shaped connection that is usually on the printer.
There's plenty of usb print servers out there but they run closer to $100 the last time I looked.
Some printers already have a network port built in. In that case, you could connect it directly to your router and be good to go.