I am completely new to ARCGIS. I want to know how to create my own base map so that I can edit it.
Thanks in advance
This link is the online help file....I would begin here and proceed down the menu tree. There is no quick way of doing what you want until you have the basics.
As Dan suggested, there is no quick and easy way of doing what you want, till the basics are covered.
However here are some additional links for reference:
ArcGIS Help 10.1
ArcGIS Explorer - Create a Basemap
Retrieving data ...