Would this just form DMT acetate? what would happen?

I've searched and haven't found anything really.

What are you or SWIY trying to achieve?

acetic acid anhydride in aqueous solution breaks down to acetic acid and if mixed with dmt yes, it will form the acetate salt of dmt. But of course the easiest way is to use vinegar!

Maybe you're thinking of acetylation? It wouldn't do anything. Bufo would turn to 5-AcO-dmt and psilo to 4-AcO-dmt if properly reacted with AAA

ah ok, and yes I was refering to acetylation.

there would need to be a proton donor, and the pyrrole nitrogen is one.
however, the product would probably be inactive

Nice. So one could make 4-aco-dmt from Psilo with Acetic anhydride or acetic acid?

Not quite. Reacting Psilocin with Acetic anhydride will give you 4AcO-dmt, wheras reacting Psilocin with acetic acid will give you Psilocin acetate