A pure Filipino is actually a combination of Malaysian and Indonesian. Though, there are other races mixed into the blood at some point in time such as Spanish (originally conquered by the spaniards), Chinese (natives in Luzon), etc...
Most Filipinos are of Austronesian stock - brown skin, short stature, straight black hair, big round brown or black eyes, etc. The other major races of the country include the indigenous Aboriginal population, who have dark skin, curly or woolly hair, short, big lips, etc. Then there are the Chinese who have tan complexion, straight black hair, taller than the majority population, etc.. And then there are the Mestizos, who are predominantly of mixed Austronesian and Iberian (Spanish, Portuguese) stock or of Chinese and Iberian blood. And that's pretty much it.. Those are the 4 major "races" of the Philippines.
The filipinos are of the asian decent but it depends on which h filipino you ask because some filipinos originate from other places in their heritage. But personally if your filipino like me you can be considered pacific islander or asian.