Who is Rincewind from The Colour of Magic and what is their importance?

Rincewind is a wizard in Ankh-Morpork that earns a living through his skills at language translation. He is skinny and wears the dark red robes associated with a wizard. He also wears the bronze octagon given to students of Unseen University, the wizardry school in Discworld. Rincewind is expelled from the university after he goes into a restricted area and inadvertently memorizes one of the Eight Great Spells in the Octavo, a grimoire that once belonged to the Creator of the Universe.