CNN is calling that a hologram? As if we needed more evidence that they're idiots. I mean, the technique isn't even new; meteorologists in particular have been making heavy use of it for years, and it's been used in prerecorded film and television for even longer. Other, older names are "chromakey" (which is a brand name, IIRC) and "color separation overlay" or "CSO". "Bluescreen" is also a common name for it, sometimes even when the backdrop isn't blue. (Green is actually more common, though strictly speaking any color can be used.) Basically, a computer creates a mask in the video signal by selecting all the bits of Image 2 which are the target color (or within a certain range of the target color) and removing them, and then overlays the masked image over the other image. In days gone by, it would be very obvious; you'd see a little halo around the person. But as computing power has increased, this technique has improved as well. With digital signals, it's even better, and of course all kinds of digital effects can be applied to one or both images, even in a live feed.
A true hologram is a flat image which has recorded three-dimensional data. These are the images that seem to shift as you move side to side. Unlike a stereogram or anaglyph, in which two pictures are presented and you use special eyewear to feed one image into one eye and the other image into the other eye, a true hologram actually captures the angles of various light beams striking the film, and this makes it seem like a three-dimensional photograph. It's not really a photograph, although the film is photosensitive and much of the technology is the same. It all works through the interference of two different sets of light -- light reflected off of the target (usually a small sculpture or object to be scanned) and a reference beam, which is recorded in the film emulsion in such a way that shining normal light on the object will stimulate the light to be reproduced. It's all very clever. I once had the opportunity to make a hologram; it was quite a memorable experience for a young girl.