It stands for "Cold air induction" which is kind of decieving as the air really isn't any colder than normal. . Essentially, it is an aftermarket part that replaces the stock air box and filter, as well as the piping from the air box to the MAF and the MAF to the intake. It is a minor bolt on mod that adds some HP and a little better fuel milage by increasing the air flow into the intake. It's one of the most common mods for a 94-04 V6 ustang.

 

Congrats!

 

That is one fine looking car!
Just to think of all the fun instored for you.
Happy Trails!!