Freddy vs. Jason is a crossover horror film released in 2003 that brings together two iconic horror characters, Freddy Krueger from the 'A Nightmare on Elm Street' series and Jason Voorhees from the 'Friday the 13th' series. The film explores a clash between the two villains as they battle each other while terrorizing a group of teenagers. It combines elements of both franchises, delivering a unique horror experience for fans.