As Jdub said it means "idle". The IDL contact is a switch in the TPS that tells the ECU when the throttle plate is closed. It's what's making your engine rev up and down but it's not the cause of your problem.
When the idle speed valve is working idle problems are caused by the switch being open. You have the opposite situation (switch working, valve not) but the result is going to be the same: unstable idle. In the first case bad idle is cause by the idle speed control system being disabled (by the open IDL switch) while in the second case it's caused by a safety function coded into the ECU. If rpm becomes too high with the throttle closed the ECU cuts fuel injection because that's an illogical situation the TCCS deems as potentionally dangerous. It's one way the box keeps tabs on itself. Injection is restored when rpm falls a few hundred rpm below the cutoff point and the cycle repeats.
With the ISCV full open there's enough volume (conductance in engineering parlance) in the idle bypass path to allow rpm to exceed this cutoff point. The mixture is also richer when cold. However when the ISCV is working correctly it begins to step closed (as soon as rpm crosses 500 just after start) on it's way to setting whatever target rpm is required for the current coolant temperature. Put another way the engine normally doesn't reach the rpm cutoff point on a cold start regardless of ambient and even if it does won't stay there long enough to trigger the safety cut. Yours is. If you unplug the TPS or hold the throttle slightly open the hunting should disappear because rpm and throttle position will then "jive" and make the ECU happy.
Anyway, the solution is to determine why 1) the valve isn't stepping closed after engine start or 2) it is stepping closed but something else is keeping idle rpm above the cutoff point.