There's a local session where a clarinet player used to turn up quite regularly and keep up with the fiddles pretty well.I reckon the worst thing about it will be the transposing. Most folk tunes are in D or G - which would put you in E or A. The fingering on clari is so awful that it could be very tiresome.
However, if you persevered &/or found more suitable tunes, I'm sure it would sound beautiful.
--Callie (a reformed clari player - now sax player!!)