The DM of the Rings is a webcomic by Shamus Young which imagines the characters of The Lord of the Rings movies as players in a Dungeons and Dragons campaign who consistently refuse to stay in-character.
Link via John Meunier
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If you like the idea, also check out "Darths and Droids", a similar idea for Star Wars. (The main difference being that the DM in "DMOTR" has the LOTR story plotted out and forces the players to go along with it, while the DM in "D&D" has a completely different story planned, but the players stumble around and create the Star Wars story we all know.)