1. A system that facilitates allocation of replicas among a set of storage nodes in a hybrid backup environment, the hybrid backup environment including one or more storage nodes located in a cloud storage location of a cloud backup environment, one or more storage nodes located in a peer-to-peer backup environment and one or more peers of the peer-to-peer backup environment, the system comprising: a processor coupled to a memory that retains computer-executable instructions, wherein the processor executes: (A) a replication component that: identifies properties of a portion of data, evaluates both the one or more storage nodes located in the cloud storage location of the cloud backup environment and the one or more storage nodes located in the peer-to-peer backup environment to identify characteristics of the one or more storage nodes located in the cloud storage location of the cloud backup environment and the one or more storage nodes located in the peer-to-peer backup environment, wherein the one or more storage nodes located in the cloud storage location and the one or more storage nodes located in the peer-to-peer backup environment are disjoint sets; and wherein the one or more peers of the peer-to-peer backup environment consist of one or more devices and the cloud storage location is accessible to the one or more devices via a network, the cloud storage interacting with the one or more peers via the network, and generates a replica requirement for the portion of data based at least in part on an analysis of (1) the identified properties of the portion of data and (2) the identified characteristics of both the one or more storage nodes located in the cloud storage location of the cloud backup environment and the one or more storage nodes located in the peer-to-peer backup environment, the one or more storage nodes located in the cloud storage location and the one or more storage nodes located in the peer-to-peer backup environment being disjoint sets; wherein the identified properties include the size of the portion of data and at least one of: compressibility of the portion of data and reparability of the portion of data; and (B) a placement component that: generates a placement policy based, at least in part on (1) the identified characteristics of the one or more storage nodes located in the cloud storage location of the cloud backup environment and the identified characteristics of the one or more storage nodes located in the peer-to-peer backup environment, the one or more storage nodes located in the cloud storage location and the one or more storage nodes located in the peer-to-peer backup environment being disjoint sets, the identified characteristics including one or more of: availability of a storage node, available storage capacity of the storage node, cost of storage corresponding to the storage node, cost of data transfer to or from the storage node, and network locality of the storage node relative to an origin node, and (2) user preferences, comprising (i) a weighting of: each one of the identified characteristics of the one or more storage nodes located in the cloud storage location of the cloud backup environment and the identified characteristics of the one or more storage nodes located in the peer-to-peer backup environment used in generating the placement policy, the one or more storage nodes located in the cloud storage location and the one or more storage nodes located in the peer-to-peer backup environment being disjoint sets, and (ii) an identification of a preferred storage node; and distributes one or more replicas of the portion of data among both the one or more storage nodes located in the cloud storage location of the cloud backup environment and the one or more storage nodes located in the peer-to-peer backup environment of the hybrid backup environment, based on the replica requirement, the placement policy, the identified characteristics of the one or more storage nodes located in the cloud storage location of the cloud backup environment, and the identified characteristics of the one or more storage nodes located in the peer-to-peer backup environment, the one or more storage nodes located in the cloud storage location and the one or more storage nodes located in the peer-to-peer backup environment being disjoint sets, (C) an observation component that monitors the one or more storage nodes located in the cloud backup environment and the one or more storage nodes located in the peer-to-peer backup environment to identify changes in the characteristics thereof.