It is a ceremony used in Reform congregations to mark the beginning of formal Jewish education, usually with K or 1st grade. Consecration is not based on traditional rituals, and is not observed in Orthodox congregations.
Some Conservative congregations do observe the ceremony.
The FAQ is a collection of documents that is an attempt to answer questions that are continually asked on the soc.culture.jewish family of newsgroups. It was written by cooperating laypeople from the various Judaic movements. Hopefully, the FAQ will provide the answer to your questions. The FAQ maintainer will endeavor to direct your query to an appropriate individual that can answer it.