Bored of the Rings (1969) was a shameless, opportunistic, money-grubbing attempt to make money off the then-current Lord of the Rings craze. It says so right in the introduction. Created by Harvard Lampoon, the parody throws Tolkien's work into the mud, along with popular culture, some stray dogs, an itinerant card shark, and a frat full of drunk, oversexed men with beer goggles. The results is about as stupid as you'd expect, with unexpected moments of the sublime.
In short, this book is a good way to ditch a few hours and have a few laughs along the way.
Do expect the book to offend. That's its purpose. If you aren't offended, then they didn't do their job right.
The book follows the adventures of Frito and Spam, Goodgulf the wizard, and a variety of other brands and product placements that should have made the writers rich, but likely didn't because this was the era before product placements. Their goal is to destroy the Ring, and between here and there, have more interesting adventures that Tolkien's original book. At least they know how to get in, tell the joke, and get out.
While most jokes are fully adolescent in their executions, a few rise to beautiful sublimity, such as the translations of the various elven songs.
The humor comes come densely packed and thorough, requiring your attention for every sentence. Almost every sentence contains humor, slapstick, or parody to some degree. You don't have to wait for the humor to begin in the least. In fact, the humor is more like the running of the jokes, filling the streets with every humor form known to man and elf.
While the book asserts that's its a masterpiece of parody, that's just it praising itself. As humor goes, its a good diversion, but rarely rises beyond the level of opportunistic.