I just got this car does anyone know what the traction control button is for ????

The traction control shifts power from the wheels that slip to the wheels that grip, thus preventing you from slipping and sliding when driving through the snow and otherwise slippery conditions.

Actually the Traction control applies the brakes to the slipping front wheel and also cuts back the engine power if the spinning continues, the noise you hear when it engages is the hydraulic pump applying the brakes to the spinning wheel. The switch on the dash will disable the Traction Control if desired, when disabled a yellow light that says "Trac Off" will light up in the Message Center on the dash. The Traction control will not work if wheel speeds are above 35 MPH.