We will use (see [3]): If $q=e^{-\pi\sqrt{r}}$, $r>0$, $k^{*}_r=\sqrt{1-k_r^2}$:
$$
\prod^{\infty}_{n=1}(1+q^n)=q^{-1/24}2^{-1/6}\left(\frac{k_r}{(k^{*}_r)^2}\right)^{1/12}.
$$
Hence if
$$
P=\prod_{n=0}^{\infty}\left(1-q^{n}+q^{2n}\right),\tag 1
$$
we have
$$
P^{12}=\left(\prod_{n=1}^{\infty}\frac{(1+q^{3n})}{(1+q^n)}\right)^{12}=q^{-1}\frac{k_{9r}}{k_r}\left(\frac{k^{*}_{r}}{k^{*}_{9r}}\right)^2.
$$
Hence in view of [1] pg.229-238 with $\alpha=k_r^2$, $\beta=k_{9r}^2$ and
$$
m=\frac{_{2}F_1\left(\frac{1}{2},\frac{1}{2};1;k_{9r}^2\right)}{{}_2F_1\left(\frac{1}{2},\frac{1}{2};1;k_r^2\right)}=\frac{z_9}{z_1},
$$
instead of $m=\frac{z_1}{z_9}$, we have
$$
P=\sqrt[12]{8\frac{(1-3m)^2(1-m) m}{(1+m)^2(1+3m)}}.\tag 2
$$
The $m$ is the solution of ([2] chapter 5):
$$
27m^4-18m^2-8(1-2k^2)m-1=0\tag 3
$$
and
$$
k=k_r=\left(\frac{\vartheta_2(0;1/8)}{\vartheta_3(0;1/8)}\right)^2\textrm{, }r=9\log^2(2)/\pi^2.\tag 4
$$
The theta functions are
$$
\vartheta_2(0,q):=\theta_2(q)=\sum^{\infty}_{n=-\infty}q^{(n+1/2)^2}\textrm{, }\vartheta_3(0,q):=\theta_3(q)=\sum^{\infty}_{n=-\infty}q^{n^2}.
$$
REFERENCES.
[1]: B.C. Berndt, 'Ramanujan`s Notebooks Part III'. Springer Verlang, New York (1991)
[2]: J.M. Borwein and P.B. Borwein. 'Pi and the AGM: A Study in Analytic Number Theory and Computational Complexity', Wiley, New York, 1987.
[3]: E.T.Whittaker and G.N.Watson, 'A course on Modern Analysis'. Cambridge U.P. (1927)