Simplest way to understand is to run this script:
<?php
class ParentClass
{
    static $A = 'ParentVariable';
    static function parentCall()
    {
        echo get_called_class() . ', self: ' . self::$A . "\n";
        echo get_called_class() . ', static: ' . static::$A . "\n";
        echo "---\n";
    }
}
class ChildClass extends ParentClass
{
    static $A = 'ChildVariable';
    static function childCall()
    {
        echo get_called_class() . ', self: ' . self::$A . "\n";
        echo get_called_class() . ', static: ' . static::$A . "\n";
        echo get_called_class() . ', parent: ' . parent::$A . "\n";
        echo "---\n";
    }
}
echo "Late Static Bindings:\n";
ParentClass::parentCall();
ChildClass::parentCall();
ChildClass::childCall();
?>
----
Output:
Late Static Bindings:
ParentClass, self: ParentVariable
ParentClass, static: ParentVariable
---
ChildClass, self: ParentVariable
ChildClass, static: ChildVariable
---
ChildClass, self: ChildVariable
ChildClass, static: ChildVariable
ChildClass, parent: ParentVariable