A static IP address is a unique identifier for your computer, while it's connected to the Internet or another network. It's called "static" because it doesn't change each time you connect to the network.
Like any IPv4 address, a static IPv4 address is representable in dot-decimal notation, consisting of four decimal numbers, each ranging from 0 to 255, separated by dots (example 169.254.127.114).
When an IP is static, this number is assigned to a computer by an Internet service provider (ISP) to be its permanent (or at least long-term) address on the Internet. Computers use IP addresses to locate and talk to each other on the Internet.