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How do you run it?

Compile it:

1. Get OS X running.

2. Find a copy of Metrowerks Codewarrior for Mac OS (the .mcp files are Metrowerks Codewarrior projects) or create a project yourself.

3. Find the necessary header files for the Carbon API (Codewarrior should have them, they're also included with XCode, Apple's IDE).

4. Hope the code is conforming to a current version of the C Standard, so you can compile it without errors. Otherwise fix the errors.

Then you should be able to run it on OS X.

Otherwise get a copy of sheepshaver and a couple binaries

Wasn't carbon ditched like a decade ago?

It is "depreciated" but still supported on 32-bit for compatibility.