Camp Bed is a building that can be placed (via the "Build Menu") anywhere outside the borders of towns or even in player owned buildings in town. It is used in the same way as a normal bed. Once you've rested, it can be deconstructed to be used over and over again. Like other camping buildings, its "construction" does not create a player outpost. When slept in your recover organic health 4x faster and blood/oil twice as fast as normal.
Camp Bed is essentially an unfolded Sleeping Bag (an item).