Open clusters can be the key to deepening our knowledge on various issues involving the structure and evolution of the Galactic disk and details of stellar evolution because a cluster's properties are applicable to all its members. However, the number of open clusters with detailed analysis from high-resolution spectroscopy or precision photometry imposes severe limitations on studies of these objects. To expand the number of open clusters with well-defined chemical abundances and fundamental parameters, we investigate the poorly studied, anticenter open cluster Tombaugh 1. Using precision uvbyCaH beta photometry and high-resolution spectroscopy, we derive the cluster's reddening, obtain photometric metallicity estimates, and, for the first time, present a detailed abundance analysis of 10 potential cluster stars (nine clump stars and one Cepheid). Using the radial position from the cluster center and multiple color indices, we have isolated a sample of unevolved, probable single-star members of Tombaugh 1. From 51 stars, the cluster reddening is found to be E(b-y) = 0.221 +/- 0.006 or E(B-V) = 0.303 +/-. 0.008, where the errors refer to the internal standard errors of the mean. The weighted photometric metallicity from m(1) and hk is [Fe/H] = -0.10 +/- 0.02, while a match to the Victoria-Regina Stromgren isochrones leads to an age of 0.95 +/- 0.10 Gyr and an apparent modulus of (m - M) = 13.10. +/- 0.10. Radial velocities identify six giants as probable cluster members, and the elemental abundances of Fe, Na, Mg, Al, Si, Ca, Ti, Cr, Ni, Y, Ba, Ce, and Nd have been derived for both the cluster and the field stars. Tombaugh 1 appears to be a typical inner thin disk, intermediate-age open cluster of slightly subsolar metallicity, located just beyond the solar circle, with solar elemental abundance ratios except for the heavy s-process elements, which are a factor of two above solar. Its metallicity is consistent with a steep metallicity gradient in the galactocentric region between 9.5 and 12 kpc. Our study also shows that Cepheid XZ CMa is not a member of Tombaugh 1 and reveals that this Cepheid presents signs of barium enrichment, making it a probable binary star.