the first one is called Hybrid Picking, this means that you still hold the pick as you normaly hold it (between thumb & index), so you have the middle and ring fingers free to do some finger picking (some people uses their pinky too),at the same time you're still using the pick for some notes... this way you can easily & instantly move from using pick or hybrid(finger & pick together) technique...
the other way is by hiding the pick, you can usualy hide it between any 2 fingers, but it's more reasonable hiding it between ring & pinky fingers for the ease of playing... also you can use the pinky to roll over the pick instead of using 2 fingers for that, which is the best, since you'll have 4 fingers totaly free for finger picking style as in classic guitar methods..
