It’s your basic “it depends.”  Does it lay flat (or reasonably flat) so that it will hang nicely?  How big is the quilt?  How much quilting is in it?  Is it in good shape, free of rips, tears, and other structural deformities?  Gravity will take its toll if the quilt is too heavy to hang and/or there’s not enough structural strength to keep the front from separating from the batting and backing.  Is the quilt of historic significance or a family heirloom?  How much light is in the room where you plan to hang it?  Will the quilt get any direct sunlight (a no-no)?

But, let’s assume all is well and it’s just a matter of figuring out how to get a nice textile to be a focal point in a room.  The easiest way would be to attach a sleeve to the back, along the top.  If you Google “quilt sleeve instructions” you’ll pull up some basic instructions.  The ones at About.com are good

http://quilting.about.com/od/decoratingwithquilts/ss/quilt_sleeve.htm

save that I add an extra step.  After the tube is finished, I sew an extra seam about half an inch from both the top and the bottom.  This keeps the rod from resting directly against the stitches used to attach the sleeve to the quilt. 

For the rod, I’d suggest getting one of those wooden drapery rods with the finials and brackets.  (I got mine from IKEA but I’ve seen them at Bed, Bath, and Beyond and through some catalogs.)  It will let the quilt hang a bit away from the wall so air can circulate.

Depending on how much you want to spend, there are also various types of wooden hangers, ranging from a pincer type which are used in sets of half a dozen or so (depends on how wide the quilt is), up to a mounting device that’s as long as the quilt is wide and that pinches it between two slats and is then mounted to the wall.  I don’t recommend Velcro or metal devices.

If you get overwhelmed, your best source of advice is your local quilt shop.  Take the quilt in, tell them what you plan to do and you’ll likely get more advice than you know what to do with.  They might even have some hanging devices for you to look at (or purchase) and/or offer to make/sew the sleeve onto the quilt for a nominal charge.