Think of it as like a wooden minecart with handles. The wagon would have handles sticking out from the back of it and it would only have two wheels. The recipe would go like this:
The wagon can be pushed like a minecart unless you right click the handles, then the wagon would be behind you as you move as if you were holding a wagon and pulling it in real life. The wagon can only be pushed down hill (since going uphill would look weird) unless you right click the handles and pull it up hill. You can hop in the wagon just like a minecart if you wight click the base. You can also place chests in the wagon without all the hassle of using a crafting bench. The wagon might not be the most useful thing, but it is easy to make and it could be really fun to use, for you can make a carriage for other players, mobs, or chests!