There isn't really support for terrain in OSM. But there probably shouldn't be, there's not really any good way to collect a little bit of elevation data.
Then again, for common elevation data, there are loads of other good sources which can be used in conjunction with OSM, not sure about licensing though.
http://wiki.openstreetmap.org/wiki/Relief_maps
http://wiki.openstreetmap.org/wiki/Contours
http://www.openstreetmap.org/#map=13/33.9147/-112.4034&layer...