Natural fibers, such as bamboo, flax, hemp, and coir, are usually different in terms of microstructure and chemical composition. The mechanical properties of natural fibers strongly depend on the organization of cell walls and the cellulose micro-fibril angle in the dominant cell wall layers. Bamboo, flax, and hemp are known for high strength and stiffness, while coir has high elongation to failure. Based on the unique properties of the fibers, fiber hybridization is expected to combine the advantages of different natural fibers for composite applications. In this paper, a study on bamboo/coir fiber hybrid composites was carried out to investigate the hybrid effect of tough coir fibers and brittle bamboo fibers in the composites. The tensile behavior of unidirectional composites of bamboo fibers, coir fibers, and hybrid bamboo/coir fibers with a thermoplastic matrix was studied. The correlation between the tensile properties of the fibers and of the hybrid composites was analyzed to understand the hybrid effects. In addition, the failure mode and fracture morphology of the hybrid composites were examined. The results suggested that, with a low bamboo fiber fraction, a positive hybrid effect with an increase of composite strain to failure was obtained, which can be attributed to the high strain to failure of the coir fibers; the bamboo fibers provided high stiffness and strength to the composites.