Beu in Search Engine Watch Forums had the scoop on Google relaunching demographic bidding for AdWords and AdSense. The AdWords blog writes Demographic bidding beta test, and gives users a form to sign up for the beta test.
There are more details on exactly what demographic bidding is at AdWords, but in short, you can specific which age or gender you want to bid higher or lower on, or even exclude your ads from being shown to.
Didn't Google already launch this? Then it was a US test only and used comScore Media Metrix data for the demographics data. I posted more history on our confusion of this "relaunch," which Google is not calling it, at Search Engine Land.
Forum discussion at Search Engine Watch Forums.