What is meant by run time dynamically in Decoaration Design pattern?

While studying more than one article about Decoration Design Pattern, I noticed that all of the articles talk about Decoration enables us to create additional features dynamically at runtime and create objects dynamically at runtime. I totally understand the Decoration pattern, But I can't find a clear way for understanding what is meant by dynamically? and if it not made in runtime, how it originally made?

Second Question, what is meant by this sentence? I need example telling me that this is dynamic and this is static, and this is runtime and this is a compile time.

Inheritance is the first solution that comes to mind when you need to extend class behaviors. However, the inheritance is static. You can not add new subclasses to a program when it is already compiled and executed.Ref

Third question : I need an article or description of for example this is a way object made in runtime or not and this is a way it made dynamically and this isn't

Refs :

1. Tutsplus
2. Laracsts video
3. Wiki