This recipe was all about processing a MODIS raster into a form suitable for use in PostGIS. We used the gdalbuildvrt utility to create our VRT. As a bonus, we used gdal_translate to convert between raster formats; in this case, from VRT to GeoTIFF.
If you're feeling particularly adventurous, try using gdalbuildvrt to create a VRT of the 12 PRISM rasters with each raster as a separate band.