It is a compilation of quotes from all the Discworld novels, amassed and prefaced by Stephen Briggs.
Many of the quotes are presented in such a way that even a relative Discworld novice could see the humour, although some require some knowledge of the Discworld universe (and the many unique characters that populate it) in order to be understood.
The introduction to the book, written by Stephen Briggs, states: In producing this book, I have not tried to extract every single gag and witty exchange from the series.
There are too many, and to do that, I might as well have tied a set of the novels up with string and added a tag: 'The Complete Wit of Pratchett'.
[1] Stephen Briggs The cover of the book is presented as a sort of 'faux book of magic', as borrowed from the Unseen University library, complete with mystical runes, torn edges, and coated in spiderwebs.