PRD link:
Dual Form Shifter (Ex): At 12th level, when the shapeshifter takes on a shifter's blessing form, he can take on a hybrid of two of his forms. He gains the bonuses for both forms. This ability replaces camouflage.
Mechanically, whenever you shapechange using the class ability, you select any two of your previously selected shapeshift forms and apply the modifiers granted by both.
e.g.
Bear and Dragon = 20 ft base speed, + 4 Strength, +2 natural AC
Cat and Otter = +10ft move speed, +4 Climb, +4 Acrobatics, +8 Swim, swim speed 30ft
Note that when the shapeshifter ranger first obtains this ability at level 12, you only have two shapeshifter forms available to you. The third form is selected at level 13.