Dynamic assessment (DA) is an interactive assessment that encompasses planned mediational teaching and assessment of the effects of that teaching on subsequent performance. DA has been motivated by the inadequacy of conventional static tests to provide accurate information about the individual's learning ability, deficient functions, change processes, and mediational strategies. This paper explores the nature and potential of DA when used in the Early Years Foundation Stage (EYFS) by educational psychologists (EPs). Two EPs were interviewed using semi-structured interview schedules and observed delivering DA. Interviews were analysed using TA and a content analysis was used to analyse the videoed observations. The DA approach was useful in assessing "learning how to learn" skills. Findings highlight promising evidence regarding the utility of EPs' play-based DA approach in the EYFS to elicit positive information about children's skills, learning potential and intervention strategies.