That information is in your owner's manual. VSC stands for Vehicle Stability Control. It's an automatic system (though there's a switch on the dash to turn it off) that will automatically dial back engine power or apply brakes to the appropriate wheel under certain conditions.
You'll see the light flash if you accelerate rapidly inducing wheel spin, if you go around a corner very quickly and the system thinks there's some danger of the car going out of control (usually on slippery surfaces) etc.
If the VSC light is staying on after engine start, it indicates a fault in the system. Take the car to a Toyota dealer for diagnosis.
Cheers
VSC=Vehicle Stability Control, or basically traction control system
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If your VSC warning light is illuminated, it cannot be reset without taking it to your dealer or mechanic. IT IS A WARNING LIGHT!! It is indicating that the vehicle computer is sensing a problem with the Variable Skid Control of the vehicle. Inasmuch as this is part of the braking system I would strongly suggest that you have it checked out ASAP!
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Vehicle Stability Control (VSC) is the Toyota/Lexus term for Electronic Stability Control (ESC)