Essentially, it involves applying scientific techniques and methodologies to the cooking process. One of the interesting results is found in the use of common substances to control the texture of foods, often in surprising ways.
You don't need a chemistry lab to pull off such effects. Jump on board the Molecular Gastronomy train by making up some carrot caviar in your own kitchen.
Here's a quick video of me making Carrot Caviar at Maker Faire 2008:
Step 1: Assemble your tools and ingrediants
A Very Accurate Scale
I chose this one. My criteria were 1) It is accurate to 0.1 grams, and 2) It looked more like a kitchen scale than a drug scale. It also had a bunch of nice features (counting, for instance) that I may never use.
Immersion Blender (optional)
You can use a regular blender, but the immersion version is nice because you get less air whipped into your solution.
I got these the same place I got the chemicals (below). I have also heard of people using traditional squirt bottles, like the red and yellow ones that are traditional for ketchup and mustard. The syringe makes me feel more like a real chemist.
For ingredients, you will need:
250 g Carrot Juice ( some nice Odwalla Juice from the local store)
500 g Water (from my local tap)
2.0 g Sodium Alginate
2.5 g Calcium Cloride
These last two are both a bit unusual. I ordered from Le Sanctuaire, which is based in San Francisco. There are other suppliers, like Texturas (Europe), L'Epicerie (in the US). L'Epicerie has a fabulous looking pipette for making cavier on an industrial scale.