Chameleon chips are chips whose circuitry can be tailored specifically for the problem at hand. Chameleon chips would be an extension of what can already be done with field-programmable gate arrays (FPGAS). An FPGA is covered with a grid of wires. At each crossover, there's a switch that can be semi permanently opened or closed by sending it a special signal. Usually the chip must first be inserted in a little box that sends the programming signals. But now, labs in Europe, Japan, and the U.S. are developing techniques to rewire FPGA-like chips anytime--and even software that can map out circuitry that's optimized for specific problems.
The chips still won't change colours. But they may well colour the way we use computers in years to come. It is a fusion between custom integrated circuits and programmable logic. In the case when we are doing highly performance oriented tasks custom chips that do one or two things spectacularly rather than lot of things averagely is used. Now using field programmed chips we have chips that can be rewired in an instant. Thus the benefits of customization can be brought to the mass market