According to ESRB, this game contains: Animated Blood, Animated Violence
Parents should know that your kids will probably blow through this thing rather quickly and demand a new purchase shortly thereafter.
Those who can't get enough of Metal Gear Solid step right up and buy this game by all means. The unique art style and overall game design that is solely Metal Gear Solid is back in Metal Gear Solid: VR Missions for all the fans to again immerse themselves in a game like they did with the original. In all likelihood, you've just finished playing Metal Gear Solid to warm yourself up for VR Missions, so it'll be worth it to you.
For the rest of us, I can only recommend getting this game if you can find it for $20. At most, VR Missions is a perfect rental (you'll probably beat it in a weekend anyway).