Righto, this is a blatant rip off from about a dozen other forums on the net, but you'd be surprised how addictive this can get...
the idea is, you have make an acronym out of the bold word in the previous acronym... so let's start with the word "acronym"...
Alpha
Centauri Rises Over Near Yonder Mountain
So the next person makes a phrase out of "Centauri" and chooses the next word. Enjoy, and don't say I didn't warn you...
Cheers,
Brad