In Rational ClearCase, a dynamic view is one that automatically updated to reflect all changes, without specific developer intervention. If a developer is working on a dynamic view, they can be certain that they are working on the latest version of all objects.
Dynamic views are made possible by Rational's MVFS, Multi Versioned File System which presents the view to the developer as a networked drive. To the developer, this drive looks like any other, but is being continuously updated to include other developer's work.