Phytochrome is a photoreceptor pigment found in plants that detects light in the red and far-red spectrum. It exists in two forms, Pr and Pfr, which convert between each other when exposed to red or far-red light. Phytochrome plays a regulatory role and is ubiquitous in plants, occurring as a dimer protein with a chromophore pigment molecule. It was discovered in the 1940s-1960s and regulates processes in plants like seed germination, seedling elongation, and flowering.