Alpacs are probably my favorite animal! 
Yes; I like them, too.  I also like llamas as they are very similar to the Alpaca.  Do you own or live near alpacas?
They are extremely similar but there are a quite few differences, namely in how easy it is to raise them! I actually do live near alpacs!
They are different, but the breeds are so close that they can actually be successfully cross-bred.
Do you know what a cross-breed would be called?
I'm not totally sure on the name of the cross-breed; but I know that each is bred for distinctive purposes.  Alpacas are bred for their "wool."
The offspring between a llama and an alpaca is actually called a huarizo. Are llamas also bred for their wool? 
Traditionally, the llama was bred in South America for meat and also as a pack animal by the Andean cultures.