Yes, it's a philodendron, possibly the 'Anderson's Red' variety. This variety is a climber, so you will need to provide a stake or totem for it to grab on to. You can root it by burying a node in moist soil for a couple weeks. It's a relatively easy grower once its rooted. If you take cuttings, make sure you get a node so roots can form there. I use potting soil with some perlite or bark to give it a little aeration.

I recommend you visit the IAS web page to learn more about philodendrons. There are many other nice ones out there you may wish to add to your collection.

Here is a link that might be useful: IAS