Its a 4-bit ring-shift register with a single '1' cycling through it after reset.
After starting the clock, the 4 outputs will remain off or in a random state until the reset input is activated. Then it should work as described.
A button for reset, some way to display the output (LEDs)
| # | Input | Output |
|---|---|---|
| 0 | CLK | O_0 |
| 1 | RST | O_1 |
| 2 | O_2 | |
| 3 | O_3 | |
| 4 | ||
| 5 | ||
| 6 | ||
| 7 |