The Collaborative International Dictionary of English v.0.48:

Scrapbook \Scrap"book`\, n.
   A blank book in which extracts cut from books and papers may
   be pasted and kept.
   [1913 Webster]

WordNet (r) 3.0 (2006):

scrapbook
    n 1: an album into which clippings or notes or pictures can be
         pasted

The Devil's Dictionary (1881-1906):

SCRAP-BOOK, n.  A book that is commonly edited by a fool.  Many
persons of some small distinction compile scrap-books containing
whatever they happen to read about themselves or employ others to
collect.  One of these egotists was addressed in the lines following,
by Agamemnon Melancthon Peters:

    Dear Frank, that scrap-book where you boast
        You keep a record true
    Of every kind of peppered roast
            That's made of you;

    Wherein you paste the printed gibes
        That revel round your name,
    Thinking the laughter of the scribes
            Attests your fame;

    Where all the pictures you arrange
        That comic pencils trace --
    Your funny figure and your strange
            Semitic face --

    Pray lend it me.  Wit I have not,
        Nor art, but there I'll list
    The daily drubbings you'd have got
            Had God a fist.