Unzip it into some directory, and then run PerfNoise.exe. You'll want the current working directory to be the directory containing the sounds (the .wav files). Note that PerfNoise has no interface (it's just a quick hack). To kill it, you'll need to use PView or some similar process-killing utility.
Also note that you can change the sounds to be whatever you like, as long as you make sure the file names are the same. They don't even have to be the same length. Enjoy!