A "hipsterbilly" is a sub-category of a traditional "hipster". A hipsterbilly adopts styles from the American "hillbilly" style. They can commonly be seen wearing hillbilly inspired styles such as flannel, overalls, hiking boots, etc. They are also likely to grow unruly beards, as to appear more rugged or outdoorsy. Although they appear to have a hillbilly "look", they have never grown up in the boondocks or possess any outdoors-man skills, such as starting a fire, chopping wood, hunting, farming, fishing, etc. Some famous hipsterbillies include members of the band Mumford and Sons and Fleet Foxes; just to name a few.
Look at that guy with the overgrown beard and ironic flannel! Looks like he couldn't start a fire with a blow torch; he must be a hipsterbilly!