Hybrid picking is a method of holding a pick normally, and using your middle, ring and pinky finger to also pluck strings. Some people consider it the "best of both worlds" because you can get the crisp attach of the pick as well as the ability to pluck more than one note at the same time (which sounds a lot different than a strum).

Personally, I don't like it because I like to use my thumb for a soft base note, which you can't do with hybrid picking. Not to mention, it takes my most coordinated finger (pointer) out of the equation.

Some people really seem to like it though, so take my view with a grain of salt.