Fix kit for Xbox 360 consoles with the "Red Ring of Death" (RRoD) failure. Replace, reattach, and reclamp the heat sinks on your Xbox 360. Usually fixes a RRoD Xbox—also effective as a preventative measure. Kit includes: tube of Céramique 2 thermal compou — 50+ available at 29.95 each.
there are tons of "how to" videos about this on youtube. that being said stay away from the towel trick or anything that tells you to overheat your console. this leaves you with two choices a reflow or a reball both get kind of expensive to do so it's best to find someone that does them professionally and pay them to do it. in my experience the reflow even when done properly can still fail again.