Your soil's ph is the measure of its acidity. A highly acidic soil has low ph and a highly alkaline soil has high ph.
pH is measured in the scale of 0 to 14, with 7 being neutral. 0 pH means completely acidic and 14 pH means completely alkaline (without acids). Most soil would have the pH of 7, meaning its neutral.
Neutral soil is best for the prevalence of living organisms in your soil which are vital to plant growth. The living organisms break down organic matter which act as food for the plants.
Highly acidic soil prevents the growth of living organisms and is not well suited for many plants. As much as possible try to maintain a neutral soil. Adding sulphur to the soil makes it acidic, whereas adding lime to soil makes it alkaline.
Of course there are certain plants which have a preference for acidic soil, such as blueberries, rhododendrons, broad leafed evergreen plants and azaleas. These plants grow well if the soil pH is on the lower side. You would be recommended to mix sulfur into the soil where these plants are grown.
There are plants on the opposite spectrums which like alkaline soil. Examples of these plants are dianthus, beets and penstemon.
The best way is to have a soil test done. There are labs around several regions who perform soil test for you. You need to collect a sample and have it mailed across to them for testing.
These lab tests are useful for two reason. They not only let you know of the soil pH, but provide you with detailed information on the minerals lacking in your soil and what you can do about it. You can implement the suggestion given by the lab to the letter.
There are small kits available for soil testing which you can perform on your own. These kits are easy to use and highly recommended to do base testing.
A quick look at the plants growing in your neighbors garden can give you an idea of the soil pH. If crops like blueberries are flourishing, it would indicate an acidic soil.
Working the pH of your entire yard would be a difficult proposition, however you can easily cater to the pH requirements of certain group of plants or a single plant. Here's what you do
To make the soil less acidic: Mix the soil with limestone. You mix upto 10 pounds of limestone into 100 square feet soil. This of course a approximation. The best thing to do would be to get a lab test done and follow their recommendation.
To make the soil more acidic: The chemicals you can add to your soil are ammonium sulfate, calcium sulfate and powdered sulfur. The organic matters which enhance acidic levels in your soil are cut leaves, saw dust and pine needles.
Quantity matters a lot while tampering with the soil. Use expert advice as much as possible while using chemicals such as sulfur. While making the soil acidic make sure you add one part of organic matter to three parts of soil, that's a proper ratio to follow.