Which bad fanfic is he planning on reading? If he's still up in the air about which one to do, I'd suggest ITS MY LIFE! by MarissaTheWriter. Sure, most of the characters are girls, but think of all the comedy that would involve! (Disclaimer: this suggestion may or may not have something to do with my current obsession with the Portal fandom. Second Disclaimer: I am in no way responsible for any very minor cases of serious brain damage you may sustain by reading the aforementioned fic.)

Regardless of which fanfic he does, he should make sure to have a hilarious voice for each character's dialogue. Whether or not that voice is a side-splitting antithesis of the character or a ridiculous exaggeration of the character's central stereotype is up to him.

I wouldn't think you'd need a webcam for it, though - most of the horrible fanfic dramatic readings I've seen only involved the audio of the reading set over a video showing the text being read. Then again, I haven't gone out of my way to listen to a lot of these readings. Anyone else have any suggestions?