Acoustic metamaterials are sub-wavelength structures designed to overcome limitations in the material properties of conventional materials. The present research focuses on the nonlinear acoustic and dynamic response of a specific type of engineered microstructure called a snapping acoustic metamaterial (SAMM). Snapping of these elements is defined as large, rapid deformations induced by infinitesimal perturbations in the time-varying external pressure. Snapping behavior in SAMM elements results from their non-monotonic stress-strain response, which displays regimes of positive and negative stiffness. This work presents a modeling study of the nonlinear behavior of both individual SAMM elements and a heterogeneous material containing a dilute concentration of SAMM elements embedded in a nearly incompressible viscoelastic solid. Two different scenarios are considered: (i) nonlinear wave propagation in the heterogeneous medium, and (ii) forced nonlinear dynamics of inclusions embedded in a viscoelastic medium. The nonlinearity of the SAMM elements is represented by a cubic pressure-volumetric strain relationship based on finite element model results from previous work. The effective nonlinear response of a heterogeneous mixture of SAMM elements embedded in a matrix, characterized by the parameters B/A and C/A, is then determined using both a nonlinear mixture law and a nonlinear Hashin-Shtrikman approach. The former estimate is limited to matrix materials with zero shear modulus, which cannot stabilize SAMM inclusions in regimes of negative stiffness. The augmented Hashin-Shtrikman method, however, includes nonlinear elasticity and the shear modulus of the matrix material. It therefore provides accurate estimates of the homogenized material when SAMM elements display negative stiffness and enhanced acoustical nonlinearity. The distortion of an acoustic wave propagating through the effective medium is studied through numerical solution of a nonlinear evolution equation that includes both quadratic and cubic nonlinearity. Finally, the forced nonlinear dynamic response of both a single SAMM element in a matrix and a domain of effective medium material embedded in matrix is considered. This behavior is of interest for generating enhanced absorption of acoustic wave energy because snapping leads to large hysteresis in the stress-strain response. A generalized Rayleigh-Plesset analysis is adapted to model the large-deformation dynamics associated with the system. / text