If you insist on compiling the code yourself, the fastboot source code is available in the Android open source repository and is compiled whenever you build from that tree. If you've built from the Android open source tree, you will find the fastboot executable in this location:
/out/host//bin/
But if you don't want to bother with that, just download the fastboot executable directly at the HTC Developer website.

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Step 4 Download the XOOM root file
You can get XOOM root ZIP file right here, which is built with the tegra: stingray kernel.

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Step 5 Unzip the package
Use an un-zipper tool like WinZip or Apple's built-in support for unpacking ZIP files. It includes three files: rootboot.img, su, and Superuser.apk.

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Step 6 Power Off the XOOM
Make sure your XOOM is connected via USB and then power if off.
Step 7 Reboot
In order to reboot, press the volume down and power buttons at the same time. Don't release the buttons until you see "Starting Fastboot protocol support" in the upper left-hand corner of the XOOM display.

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Step 8 Open up a terminal window
Open up a terminal window (or command prompt if on Windows) and navigate to your Android SDK "tools" folder (inside the Android SDK folder, where you installed that to) where fastboot resides. Then enter the command:
fastboot oem unlock
Step 9 Unlock the XOOM
On your XOOM's display, you should see a warning message asking if you want to continue unlocking your device. Doing so will void the warranty. Press the volume down button until it states "Yes", then press the volume up button to beginning unlocking. Wait for a reboot.

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Step 10 Enable USB Debugging and reboot
Once your Motorola XOOM has rebooted, connect to a Wi-Fi network or Verizon's network, but avoid setting up a Google account on your new Android tablet. Then, go to Settings > Applications > Development and enable USB Debugging.
Reboot your device using this command in your terminal window:
adb reboot bootloader
Step 11 Flash the boot image
In the command prompt, use this command to flash the new boot image with fastboot:
fastboot flash boot rootboot.img
Step 12 Reboot