Usually it denotes a "virtual" derivative, one where time is held constant.
If you have a position vector [itex]\textbf{r}[/itex] which is a function of several variables, [itex]\left \{ q_1,q_2,q_3,...,q_n \right \}[/itex] and time [itex]t[/itex], the the total differential displacement is given by:
[tex]d\textbf{r}=\frac{\partial \textbf{r}}{\partial t}dt+\sum_{i=1}^n \frac{\partial \textbf{r}}{\partial q_i}dq_i[/tex]
This is just the chain rule. The virtual displacement, however, is given by:
[tex]\delta \textbf{r}=\sum_{i=1}^n \frac{\partial \textbf{r}}{\partial q_i}\delta q_i[/tex]
Note that it holds time constant. Virtual displacement is very useful in areas that use Calculus of Variations, such as Lagrangian mechanics.