It's the Toyota Variable Induction System vacuum switching valve (T-VIS VSV). I remember all this because I had a bitch of a time going out and buying manuals and looking on the internet discovering which way all the rubber hoses hooked up because after a year of not touching the car all the labels got screwed and faded
However, I doubt there is enough flow through that thing to be causing a rushing air noise.
Check the big-ass rubber hose between the air-box and the throttle body, that's a fairly common cause of intake air leaks. They can split when they are fitted or it may not be sitting on perfectly.