Basically it's the big butterfly valve that is situated before your inlet manifold, and controls the airflow to the engine. It's connected to your accelerator pedal by a cable, thus allowing you to control the airflow to the engine.
Uprated ones (like the Spoon one) usually have a larger internal diameter (ID), and a thinner plate (or a knife edged plate) to reduce the diff pressure across it, and allow for a greater airflow.
Typically most cars have a single throttle body feeding a common manifold which feeds all cylinders. However Individual Throttle Bodies (ITB's) are one butterfly valve per cylinder which will give you the maximum airflow to all cylinders. (assuming the air feed to them is optimised) This is standard on BMW M3's and Ferrari's etc, but to install them on a DC5 is tricky because the OEM airflow measurements do not accomodate individual airflows to each cylinder. A lot of time and patience is required to map them correctly, but TBH I am no expert in the technicalities of this, although others have done this with varying degrees of success. :?