Let $G$ be a free product of cyclic groups of prime order. The structure of the unit group ${\cal U}(\Q G)$ of the rational group ring $\Q G$ is given in terms of free products and amalgamated free products of groups. As an application, all finite subgroups of ${\cal U}(\Q G)$, up to conjugacy, are described and the Zassenhaus Conjecture for finite subgroups in $\Z G$ is proved. A strong version of the Tits Alternative for ${\cal U}(\Q G)$ is obtained as a corollary of the structural result.