That doesn't really look like a spear so much as a giant arrow.

I agree; you can see the fletching on the left hand side of the picture. I appears that she caught the arrow mid-flight.

She's most likely holding it for the melee attack (a close range attack option for Bow and Arrow users in Monster Hunter).

Fixed ;)

Wow, polearm and spear tags... Just wow. I'll take "Bow and arrow" for 500.

who cares about the bow..shes beautiful!!!!!

Yes, the tell-tale signs of monster hunter fans. A cute girl with some nice sideboob and we completely ignore that trying to correct the tags.