From http://www.schmidp.com/index.php?option=com_files&path=/haiku/images/ download a VMWare file.

Within VMWare create a new machine based on 'Other', name the virtual disk haiku.vmdk. After creating the machine replace the generated haiku.vmdk with the contents from the downloaded tarball from the schmidp website. Next you might need to select VM > Upgrade Virtual Machine.

When you start the virtual machine you will see the Haiku boot screen. After a few seconds you will be greeted with a graphical user interface which has a Terminal 1 window open with the text: Welcome to the Haiku shell.

Welcome to Haiku.

Addition: for those of you with VMWare Player, use VMXWizard to create a .vmx file to use with the downloaded .vmdk.