That switch forces your automatic tranny to start out from a stop in 2nd gear, rather than 1st gear. The idea is to reduce torque at the rear wheels, to reduce the possibility of the tires slipping on a wet or snowy road. I believe that switch is only used in the V6 cars.
The use and function of the switch is covered in your Owner's Manual. If you don't have a manual, you can access them online:
(courtesy of Shoebox):
http://shbox.com/pdf/manuals.html