This term is used to describe locomotives or rolling stock that have been set aside and restored (typically by volunteers) to represent a previous era of life. Some locomotives are realistically not able to be returned to an operational condition, and they will be cosmetically restored and placed in a museum, or in a park. The locomotive or rolling stock in question is unable to operate on a train, although it is usually on display for the general public to enjoy.
Example: The NSW Rail Transport Museum at Thirlmere features many statically preserved locomotives on display.