Say I wanted to use it as a regular PC mic, is that possible? For live streaming on youtube.
If I attached a mic cable to it and connected that to the mic input of my PC, would it work?
It would work with a 1/8" plug into the DR-05's headphone/line out jack while you have the DR-05 in recording or recording stand by. The other end of that into the computer's analog Line In jack - Blue is the standard colour for that jack.
The DR-05 won't act as a real time USB mic though.
You figured it out
I think you'll find the blue Line In jack is a better match. The pink mic in on the PC will probably saturate, unless the PC can adjust itself.