In this paper, we present an innovative design of multiple description coding with spatial-temporal hybrid interpolation (MDC-STHI) for peer-to-peer (P2P) video streaming. MDC can be effective in P2P networks because the nature of overlay routing makes path diversity more feasible. However, most MDC schemes require a redesign of video coding systems and are not cost-effective for wide deployment. We base our work on multiple state video coding, a form of MDC that can utilize standard codecs. Two quarter-sized video bit streams are generated as redundancies and embedded in the original-sized streams. With MDC-STHI, the nodes in P2P network can adjust the streaming traffic to satisfy the constraints of their devices and network environment. By design, the redundancies are used to compensate for missing frames, and can also be streamed independently to fulfill certain needs of low rate, low resolution applications. For better error concealment, optimal weights for spatial and temporal interpolation are determined at the source, quantized, and included in redundancies.