Multiplexing is a technical way to describe signal routing, where multiple signals may be routed to one destination. In synth modules, this is usually extended to include the possiblity of one input being switched between multiple outputs. A sequential switch is a type of multiplexor, as it chooses among multiple inputs to decide which one to send to the output (or the other way around). There are some modules that do this at audio rate, using an oscillator’s output to switch between variations of another waveshape to create complex, chopped mixtures of those waveforms.
Similar:
chopper