It’s easy! When you move your pointer over a contact’s name, their “contact card” opens.
The contact card lists their Yahoo! ID and gives you a variety of ways to contact them (PC-to-PC call, text message, “Call Work,” “Send Email,” etc.).
Below this area you can see what this person’s been doing recently—if they’ve made it public. For example, if they recently wrote a review of a restaurant or a movie, you’ll see the first part here, along with a link to the rest of the review. If they uploaded photos, you’ll find out here. If they updated their avatar, same thing: this is the place you’ll get that information.
Likewise, your contacts can see what you’ve been up to, too! Click your display image at the top of your Contact List to see what’s showing for yours truly. Click Manage My Updates to adjust what you’d like others to see.