Aceto balsamico is an Italian phrase translateable into English as balsamic vinegar. The noun aceto means "vinegar." The adjective balsamico means "balsam-like," like balsam," "similar to balsam."
Balsam is the name of a tree scientifically called Populus balsamifera. The first word, the noun populus, references the tree's identity as one of the world's poplars. The second word, the adjective balsamifera, refers to the tree as "balm bearing."