Lizard said:In 3x, sure.
In 4e, it seems it will be a standard attack. Assuming the halfling and the giant are the same level, it will be 50/50 or so to succeed. If there's a Strength modifier involved, the giant *might* have a chance, but without a size mod as well, it's going to lead to some silliness...I mean, more than is usual for D&D.
Then again, as others have noted, we're only seeing a subset of the rules, still, and the monsters we've seen seem to all be roughly human size. So there might well still be size mods.
I am suspecting we will see a 'Grapple Talent Tree' or the like, so that while anyone can 'grab and hold', all the Cool Stuff requires talent picks.
Personally, I'd be inclined to house-rule that you can grab anything regardless of size... but if it's strong enough that your weight does not exceed its encumbrance limit, it can choose to walk off with you still hanging onto it. This provides a nice way to resolve the weirdly common situation--at least in my games--where the party fighter tries to grab hold of a big flying monster as it swoops past, and hang on with one hand while hacking at it with the other.
(This typically ends in the fighter taking a lot of falling damage and is frequently fatal, but most players gung-ho enough to try this maneuver in the first place consider it an excellent way to go.)
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