Let $K$ be a field.
What is an example of two $K$-algebra morphisms $R\to T$ and $S\to T$ such that $\operatorname{Spec}(R\times_T S)$ is not the pushout of the diagram $$ \operatorname{Spec}(S)\leftarrow\operatorname{Spec}(T)\rightarrow\operatorname{Spec}(R) $$ in the category of schemes? Does an example exist with $R$, $S$, $T$ finitely generated? Does an example exist with $R$, $S$, $T$ and $R\times_T S$ finitely generated?
In particular, the exisitence of such an example would prove that the inclusion functor from affine schemes into schemes does not preserve pushouts.
The pushout of schemes even doesn't have to exist at all. There is an example which I have learnt from Anton Geraschenko and Brian Conrad.
If $X$ is an integral scheme with a non-closed generic point $\eta$ such that the closed points are dense in $X$ (for example a nontrivial affine variety), then the coequalizer of $\eta \rightrightarrows X \sqcup X$ does not exist in the category of schemes. And every coequalizer in a category with coproducts can be described as a pushout, here it is the pushout of $\eta \sqcup \eta \to X \sqcup X$ and $\eta \sqcup \eta \to \eta$. Hence, for example, $\mathrm{Spec}(k(x)) \leftarrow \mathrm{Spec}(k(x) \times k(x)) \to \mathrm{Spec}(k[x] \times k[x])$ has no pushout at all.
A sufficient condition (but not necessary) for $\mathrm{Spec}(R \times_T S) = \mathrm{Spec}(R) \cup_{\mathrm{Spec}(T)} \mathrm{Spec}(S)$ is that $R \to T$ is surjective, see the paper Gluing Schemes and a Scheme without Closed points by Karl Schwede.
In general, pushouts of schemes are quite delicate and it is quite hard to say something about them. A common mistake (even in published papers) is to assume that the forgetful functor to ringed spaces preserves pushouts. Although this may be true for some reason, it is not clear a priori. This means that it is quite hard to check if a pushout, or more generally colimits, exists or not. For example, it is quite easy to see that the colimit of $\mathbb{A}^0 \hookrightarrow \mathbb{A}^1 \hookrightarrow \mathbb{A}^2 \hookrightarrow \dotsc$ in the category of ringed spaces is not a scheme, but of course this does not prove that there is no colimit in the category of schemes. I only know the following: If a colimit of schemes $X = \mathrm{colim~}_i X_i$ exists, then $\Gamma(X,\mathcal{O}_X)=\mathrm{lim~}_i \Gamma(X_i,X_i)$. The reason is that $\Gamma : \mathsf{Sch} \to \mathsf{CRing}^{\mathrm{op}}$ is left adjoint to the functor $\mathrm{Spec}$, therefore preserves all colimits. But a priori we know nothing about the whole structure sheaf of $X$ or the topology of $X$.