It's a system that alters air flow characteristics (velocity and pressure)in order to essentially switch a fixed dimension intake between the characteristics of a short runner and long runner system. ACIS was the first system Toyota used like this in a production video and T-VIS was the next step. While primarily geared toward the T-VIS system this page seems to have decent info on it:
http://turbomr2.com/MR2/Reference/TVIS/TVIS.htm
Synopsis: Think "it's the thing that makes sure I have decent torque at both high and low RPM".
EDIT: The ACIS system was only used in N/As whereas the T-VIS system was used in forced induction applications as well.