If you want a lampoon on Lord of the Rings, then read Bored of the Rings by Harvard Lampoon. I howled my way through it the first time and the second time.
Frito Buggers sets out on a quest to nowhere in particular in company with Goodgulf, the wizard, Spam, his faithful servant and Moxie and Pepsi, two general hobbits-about-town. On the way they meet Arrowroot, also known as Stomper, who really is a shiftless, good for nothing hippie-type. They meet an elf called Legolam and generally have a fun time fighting off various friends and general hangers-on of Sorhed, the big cheese.
Frito got his ring from his uncle, Dildo Buggers.
They lampoon the poetry, the geography (the countries are Onedor, Twodor, Threedor and Fourdor) as well as the characters. At the bridge over the Brandywine, there's a sign with tariffs:
Pedestrians: One farthing
People on Horses: One Halfpenny
Haywains: One penny
Black Riders: Forty Gold Pieces
The map is hilarious. The Legendary Drilling Rigs are perched off the coast, and the Little X-shaped Forest is, literally x-shaped.
The poetry goes along the lines of:
"There was a little working elf, a stenographer by day"
It's all very sixties, and there are lots of allusions to the politics (particularly American) of the day, but it's worth getting hold of and laughing through, it really is.
