<< I drive a '91 Camry and I just noticed the ECT button next to the parking brake. I pushed it down, not knowing what it is, and I think my car was accelarating faster...what is ECT exactly, what does it do and what are the consequences of it? >>
Electronically Controlled Transmission.  Some cars have a power mode and regular(econo) mode.   This button  lets you choose between high acceleration and fuel economy mode.    As many stick drivers are aware, early shifting, typically before you let the engine hit 3,000RPM can achieve a better fuel economy.  You rev it up to higher RPM before shifting if you want better acceleration, but it will cost you fuel economy.