hey everyone, i've been playing a acoustic guitar for a few months now so im still trying to learn alot. I hope this is the right place to ask this

Is there a way to practice /learn what this guy is doing??

http://www.youtube.com/watch?v=PSrPI4eEfGc (from 0:05-0:12)

it's like he is picking and strumming at the same time? or really fast, or something?!!

anyone know what this is called and how to do it??

Well, I'm not an acoustic guitarist, so I'm not sure if the technique has a name, but he looks like he's giving it a quick strum, then individually picking out all the notes with this four fingers quickly, if you wanted to do that, I'd recommend doing it at a speed that you're comfortable with, incorporating it into your own songs and slowly get to that speed.
Its pretty much strumming with some fingerpicking thrown in to accentuate the notes. Try fingerstyle I think it's the technique name you're looking for. Most fingerpicking songs however don't feature singing, the melody generally tends to be played on the guitar too. Try Ulli Boergenhausen or Sungha Jung for examples. However you can mix the two to get nice effects like that song. Its mainly just strumming through.