To play this pattern, pick the g-string with your thumb at the same time as you pick the A-string with your ring finger, then the E and C strings separately.
An interesting aspect of this pattern is the arrangement of notes: first, a group of three; second, another group of three; and then a group of two. This gives an emphasis to one of the off-beats in each bar. This is known as ‘three against four’, and it creates an interesting and unexpected color to the pattern.
You need a bit of practice to get used to this technique, but the effort is well worthwhile.As well as simultaneously picking with your thumb and one finger, you can simultaneously pick with two fingers.
Once you're comfortable with this pattern, you can put it together with a chord progression and make a nice little song: