Team Explorer and Solution Explorer supports local GIT repository via cloning. Interesting seeing commit versus checkin terminology in Visual Studio - true integrated DVCS support.
Branch selector takes advantage of GIT simplified branching model. GIT support only available in TFS service and VS client support will be available as post update. Visit Brian Harry's blog for more details - http://blogs.msdn.com/b/bharry/archive/2013/01/30/git-init-vs.aspx and the VS ALM blog - http://blogs.msdn.com/b/visualstudioalm/archive/2013/01/30/getting-started-with-git-in-visual-studio-and-team-foundation-service.aspx.
You can download the Visual Studio Tools for GIT at http://visualstudiogallery.msdn.microsoft.com/abafc7d6-dcaa-40f4-8a5e-d6724bdb980c. You can download the required Visual Studio CTP 2 update at http://www.microsoft.com/en-us/download/details.aspx?id=36508.