Model calculations that investigate the possible climatic effects of the Toba volcanic cloud are presented. The increase in atmospheric opacity might have produced a 'volcanic winter', followed by a few years with maximum estimated annual hemispheric surface-temperature decreases of 3-5 C. The eruption occurred during the stage 5a-4 transition of the oxygen isotope record, a time of rapid ice growth and falling sea level. It is suggested that the Toba eruption may have greatly accelerated the shift to glacial conditions that was already under way, by inducing perennial snow cover and increased sea-ice extent at sensitive northern latitudes. As the onset of climate change may have helped to trigger the eruption itself, it is proposed that the Toba event may exemplify a more general climate-volcano feedback mechanism.