The Cheetos Burrito features a fairly standard set of Taco Bell ingredients: rice, sour cream, seasoned beef, and nacho cheese sauce plus Crunchy Cheetos wrapped up in a flour tortilla and grilled. Additionally, the rice in the burrito is made with a new recipe that is meant to be a little more buttery.
I'm not sure I can notice the difference in the rice without a side-by-side-comparison. For the most part, the burrito tastes a lot like a number of past Taco Bell menu items given the mostly same ingredients. The Cheetos add a light crunch but not as much cheesiness as I'd expected/hoped.
The burrito came about due to the success of the similar Cheetos Crunchwrap Slider (pictured below but not available for sampling) up north in Canada.