We theoretically study the entanglement between two arbitrary spins in a magnetic material where magnons naturally form a general squeezed coherent state in the presence of an applied magnetic field and axial anisotropies. Employing concurrence as a measure of entanglement, we demonstrate that spins are generally entangled in thermodynamic equilibrium, with the amount of entanglement controlled by the external fields and anisotropies. As a result, the magnetic medium can serve as a resource to store and process quantum information. We furthermore show that the entanglement can jump discontinuously when decreasing the transverse magnetic field. This tunable entanglement can be potentially used as an efficient switch in quantum-information processing tasks.