It's just a calculation of the total number of possible 640x480 256 colour images. Look at it this way...
256 possible colours for any pixel.
So for a 1 pixel image size there are 256 possible images, which is 256^1.
For a 2 pixel image size there are 256x256 possible images, which is 256^2.
For a 3 pixel image size there are 256x256x256 possible images, which is 256^3.
And so on until for a 307200 image size (640x480) there are 256x256x...repeat 307200 times, which is 256^307200.
Simples.
So all you have to do if you want to see a picture of any hot girl you can think of naked is get a computer to generate the images and have a look through them. You'd need a big HDD though, and it may take a while