bifrost_particle_volume is a compiled version of the example mental ray shader located in the plug-ins/bifrost/devkit/bifrostMR folder of the Maya install directory. It is a voloume shader that adds a color based on the density channel of Bifröst particles.
Use the Hypershade or Node Editor to connect the Out Color port into the Volume Shader input port of a shading group.
In addition to Color and Transparency, you can set the following attributes: