This would be a housing item that played music. Just like the music in your house.
Difference is:
In addition to playing music in your house, you could also carry it in your inventory AND when it's on, instead of the default music for where you are (walking through the commons, standing by the water in Zafaria, fighting Morganth), it plays the music scrolls you put in to it.
It would play to you only, everyone else would either hear their own boom box or the default music.
This would be pretty cool, actually. In other games where you can customize the music (Sonic Generations comes to mind), I've had a lot of fun with it. My preexisting alternative, playing music on youtube, is often cumbersome and requires switching back to the browser in the middle of battles that require constant attention and I would appreciate something in-game (and undoubtedly more legal than unauthorized youtube recordings) instead.