Multistability refers to a phenomenon where a system can exist in multiple stable states simultaneously. In psychology, this concept is often illustrated through visual perception, where an image can be interpreted in different ways, such as the famous Rubin's vase that can be seen as either a vase or two faces. In physics, multistability can occur in systems like oscillators or electronic circuits, where different configurations can lead to stable outcomes. This property is significant in various fields, including neuroscience, where it helps explain how the brain processes conflicting information and maintains different interpretations of stimuli.