Farmer Maggot is ok, I guess, for Hobbit decks. They are the only decks with threat low enough to make his ability ok, and he is a little overpriced. 3 isn't very cheap. I still include him, for hopes of Steward of Gondor and some songs being able to buy him. His MotK hero I do not think anyone should use, except for joke decks.
He is the original Pennywise, being called "Penny-wise" by Tom Bombadil in "The Adventures of Tom Bombadil"