A hydrodynamic analogy for quantum mechanics is used to develop a phase-space representation in terms of a quasi-probability distribution function. Averages over phase space using this approach agree with the usual expectation values of quantum mechanics for a certain class of observables. We also derive the equations of motion that particles in an ensemble would have in phase space in order to mimic the time development of this probability distribution, thus giving the position and momentum of particles in the ensemble as a function of time. The equations of motion separate into position and momentum components. The position component reproduces the de Broglie-Bohm equation of motion. As a simple example, we calculate the phase space trajectories and entropy of a free particle wave packet.