SQL server will execute the query in following way...

Select All top 5 rows which are created in the table from 
the time it is created.

reason: newid is the key given to each row regardless of 
the values that goes into the row of the table.

For example.
if you have created a table temp
and inserted 10 rows, Only fives rows which are created 
first will be listed.

Random 5 rows are selected when newid() is used.

first of all order by clause will be executed that is first 
it will be arranged as ascending or descending order and 
than first 5 records will be fatched.....

newid() function return random row and top 5 return top 5 
rows.
So query return top 5 row using random order.