I agree with these points -
1. Wash it.
2. Keep it. Ricky Tims includes his first quilt in his shows to show that everybody is a beginning quilter at some point, and we all make mistakes. It's an awesome and proud moment when you look back and see how far you've come.
And one more point that I'd like to add: Learn from this quilt. Think about where you went wrong and what you'd do differently next time.