What is Dynamic picklist in Siebel?

To answer this question let me explain you what is picklist in Siebel first.

What is a picklist in Siebel?

Picklist is a field is field with a drop down in Siebel. For example status field on order is a pick list field. User is allowed to pick values only from available list of values. These list of values are decided at the time of development of application. Any changes to the list needs change to be made by developer and needs to be tested.

Static PickList in Siebel

And mostly all drop down values are stored in S_LIST_OF_VAL table.

What is dynamic picklist in Siebel?

Dynamic picklist is a field in Siebel which can accept values from a ever changing dynamic list. For example price list field on order BC. This field will accept any price list from Pricelist BC. Some users are allowed to create new price list in Siebel without developer's help. As soon as price list is created in adminstration pricing screen that price list becomes available to pick on any order record.

Dynamic Pick List in Siebel

Another example of dynamic picklist could be agreement pick list on opportunity BC. Any available agreement can be selected by user in opportunity record, and this list of agreement keep growing as users keep on creating agreements.

Hope it clears the doubt. Feel free to ask any questions related to picklist in comments below.