Yes. What you have there is a chunk of scoria. The holes and lines in the material were created as gas escaped from molten lava while the lava rapidly cooled, creating the rock.
There are a few different uses for scoria. Like for use in drainage or as a heat insulator. But the material itself is not rare or valuable.
On my property, here in Idaho, I find quite a bit of scoria pieces ranging from baseball size to car tire size.