I purchased this Phal. at a Home depot. The flower looks unusual to me because the petals do not open completely but stay couped around the large lip.
Can anyone tell me if this is perhaps a different type of hybid?
Definitely a peloric Phal. They are produced as a novelty item, though they can also be beautiful. Not a different type of hybrid at all. You can get pelorics and normals from the same seed pod, a small genetic difference; or even on the same spike when it is sometimes caused by an environmental problem.