Ric Racs need more water than the average succulent to keep their leaves looking healthy. They like their soil to dry out between waterings, and when watered they prefer their leaves to stay dry. This makes bottom watering (setting the plant in a small dish of water to let water soak into the bottom of the soil and work its way up) ideal for this plant. Overwatering is much worse for your plant than letting it dry out, so when in doubt skip the water.
These plants like lots of bright light (think 1-3 feet from a very sunny window) and also do very well as outdoor/patio plants. In lower light, or if too far from the light source, your plant will get "leggy," with longer vines and more space between the leaves. If this happens move your plant closer to the light and it will be much happier!
These guys go by lots of other names, like fishbone cactus, zig zag cactus, or for the science teachers among us epiphyllum anguliger!
Ric Racs are non-toxic, so no worries!