Contents were drawn from White Dwarf, a UK role-playing magazine, which had a regular 'Fiend Factory' column for reader-designed monsters. The name, but not the collaborative creation, continued for later editions.
Publisher's blurb: "THIS TOME CONTAINS ALPHABETICAL LISTINGS OF MONSTERS DESIGNED FOR USE WITH THE ADVANCED DUNGEONS & DRAGONS GAME SYSTEM. EACH CREATURE IS DESCRIBED AND MOST ARE ILLUSTRATED FOR EASY IDENTIFICATION."
More when I get hold of a copy!
Authors: Don Turnbull (editor) & numerous contributors
Publishers' Reference: TSR2012
Hardback, 128 pages
Date: August 1981
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Product page last updated: 21 January 2013