Looks like you'd have to enable remote access first:

<https://help.1and1.com/servers-c37684/dedicated-server-linux-c37687/administration-c37694/enable-remote-connections-to-mysql-a781586.html>

After you've done that (process includes checking connection with telnet), then 
you should be able to add the database to Gnucash using the hostname (eg 
db987987686.1and1.com) given in your mysql database connection settings. And 
obviously user, password, port.

Some problems:
1) Your IP address will probably change over time. You'd have to update the 
remote access to cope with this
2) The connection is not encrypted by default. So you'd be passing logins, 
passwords and queries across the internet in plain text. Not good. 

P.
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