Both of my kids loved (and still love this toy). The concept is easy which is perhaps why it is so appealing. You pull the yellow lever, the arrow spins and then it makes the sound of the animal the arrow lands on. There are quite a few options for See N' Says these days - Princess, Elmo, Farm, etc. Here are some great ways to use this toys to encourage your preemie's development.
1) Cause and Effect - As you pull the lever, show your preemie how the arrow moves around and makes noise. Encourage your preemie to "help" you pull the lever at first and then once he/she is able to, let him/her pull it alone.
2) Encouraging Movement - if your preemie is interested in this toy, use it to encourage your preemie to crawl, reach, do tummy time, stand, etc.
3) Vocalizing - This is a great toy to use when encouraging your preemie to make sounds. Point to the animals and make the animal sound. Encourage your preemie to imitate you. Or if your preemie makes a sound similar to an animal sound then tell him/her "That's right. Baaa. A Sheep says baaa."
4) Animal picture/sound recognition - this is also a great toy to use when your preemie starts being able to recognize pictures/things. Ask your preemie, "Where is the dog?" and encourage him/her to point to the correct picture.