Static builds, technically linking of binaries in such a way that there is no dynamic loading of external libraries to start the process. A more broad way that I prefer to think of static applications are ones that have no external userspace dependencies. One may argue that my definition of a static application could be a docker container. Not true! A docker container depends on docker (i.e. an external userspace dependency).
Periodically I become a bit obsessed with static building and linking of various tools. These tools can be invaluable with performing troubleshooting of niche systems where you can't depend on the system's ability to accomplish what you need to analyze or debug issues. The catch is that classical unix philosophy has encouraged maximization of shared libraries and dynamic linking. This creates tight couplings between applications and their distributions. Linus has spoken about this coupling and the weaknesses that it brings into the Linux ecosystem.
There are quite a few projects that attempt to mitigate this issues. Let's explore some of these ...