You can buy it as The Silmarillion, The Hobbit, and The Lord of the Rings!
Within the story, it's the source from which the present-day author draws the above works from.
The Red Book of Westmarch is the diary Bilbo kept...in it, he told of his adventure with the dwarves (The Hobbit), and about all the history/legends of old Middle-earth that he was told about during his time with the elves in Rivendell (The Silmarillion).
When Frodo returned from Mount Doom, Bilbo passed the Red Book onto him so that Frodo could fill in the rest of the story - his story (The Lord of the Rings). When Frodo left for Aman, he left the book with Sam to finish. Sam completed it, adding the end of the story (starting with Frodo's departure).
The Red Book is kept in the Shire and passed down through generations to our time, when it was used as the source for those three books.
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...take counsel with thyself, and remember who and what thou art.
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