diff --git a/site/src/modules/workspaces/DynamicParameter/DynamicParameter.stories.tsx b/site/src/modules/workspaces/DynamicParameter/DynamicParameter.stories.tsx
new file mode 100644
index 0000000000000..03aef9e6363bf
--- /dev/null
+++ b/site/src/modules/workspaces/DynamicParameter/DynamicParameter.stories.tsx
@@ -0,0 +1,197 @@
+import type { Meta, StoryObj } from "@storybook/react";
+import { MockPreviewParameter } from "testHelpers/entities";
+import { DynamicParameter } from "./DynamicParameter";
+
+const meta: Meta<typeof DynamicParameter> = {
+	title: "modules/workspaces/DynamicParameter",
+	component: DynamicParameter,
+	parameters: {
+		layout: "centered",
+	},
+};
+
+export default meta;
+type Story = StoryObj<typeof DynamicParameter>;
+
+export const TextInput: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+		},
+	},
+};
+
+export const TextArea: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+			form_type: "textarea",
+		},
+	},
+};
+
+export const Checkbox: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+			form_type: "checkbox",
+			type: "bool",
+		},
+	},
+};
+
+export const Switch: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+			form_type: "switch",
+			type: "bool",
+		},
+	},
+};
+
+export const Dropdown: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+			form_type: "dropdown",
+			type: "string",
+			options: [
+				{
+					name: "Option 1",
+					value: { valid: true, value: "option1" },
+					description: "this is option 1",
+					icon: "",
+				},
+				{
+					name: "Option 2",
+					value: { valid: true, value: "option2" },
+					description: "this is option 2",
+					icon: "",
+				},
+				{
+					name: "Option 3",
+					value: { valid: true, value: "option3" },
+					description: "this is option 3",
+					icon: "",
+				},
+			],
+		},
+	},
+};
+
+export const MultiSelect: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+			form_type: "multi-select",
+			type: "list(string)",
+			options: [
+				{
+					name: "Red",
+					value: { valid: true, value: "red" },
+					description: "this is red",
+					icon: "",
+				},
+				{
+					name: "Green",
+					value: { valid: true, value: "green" },
+					description: "this is green",
+					icon: "",
+				},
+				{
+					name: "Blue",
+					value: { valid: true, value: "blue" },
+					description: "this is blue",
+					icon: "",
+				},
+				{
+					name: "Purple",
+					value: { valid: true, value: "purple" },
+					description: "this is purple",
+					icon: "",
+				},
+			],
+		},
+	},
+};
+
+export const Radio: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+			form_type: "radio",
+			type: "string",
+			options: [
+				{
+					name: "Small",
+					value: { valid: true, value: "small" },
+					description: "this is small",
+					icon: "",
+				},
+				{
+					name: "Medium",
+					value: { valid: true, value: "medium" },
+					description: "this is medium",
+					icon: "",
+				},
+				{
+					name: "Large",
+					value: { valid: true, value: "large" },
+					description: "this is large",
+					icon: "",
+				},
+			],
+		},
+	},
+};
+
+export const Slider: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+			form_type: "slider",
+			type: "number",
+		},
+	},
+};
+
+export const Disabled: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+			value: { valid: true, value: "disabled value" },
+		},
+		disabled: true,
+	},
+};
+
+export const Preset: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+			value: { valid: true, value: "preset value" },
+		},
+		isPreset: true,
+	},
+};
+
+export const Immutable: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+			mutable: false,
+		},
+	},
+};
+
+export const AllBadges: Story = {
+	args: {
+		parameter: {
+			...MockPreviewParameter,
+			value: { valid: true, value: "us-west-2" },
+			mutable: false,
+		},
+		isPreset: true,
+	},
+};
diff --git a/site/src/modules/workspaces/DynamicParameter/DynamicParameter.tsx b/site/src/modules/workspaces/DynamicParameter/DynamicParameter.tsx
index 9ec69158c4e84..68b70fe8b3809 100644
--- a/site/src/modules/workspaces/DynamicParameter/DynamicParameter.tsx
+++ b/site/src/modules/workspaces/DynamicParameter/DynamicParameter.tsx
@@ -97,11 +97,11 @@ const ParameterLabel: FC<ParameterLabelProps> = ({ parameter, isPreset }) => {
 				<Label className="flex gap-2 flex-wrap text-sm font-medium">
 					<span className="flex">
 						{displayName}
-						{!parameter.required && (
+						{parameter.required && (
 							<span className="text-content-destructive">*</span>
 						)}
 					</span>
-					{parameter.mutable && (
+					{!parameter.mutable && (
 						<TooltipProvider delayDuration={100}>
 							<Tooltip>
 								<TooltipTrigger asChild>
diff --git a/site/src/testHelpers/entities.ts b/site/src/testHelpers/entities.ts
index adec32f504d6d..df6fa23c8aba5 100644
--- a/site/src/testHelpers/entities.ts
+++ b/site/src/testHelpers/entities.ts
@@ -2988,6 +2988,25 @@ export const MockWorkspaceBuildParameter5: TypesGen.WorkspaceBuildParameter = {
 	value: "5",
 };
 
+export const MockPreviewParameter: TypesGen.PreviewParameter = {
+	name: "parameter1",
+	display_name: "Parameter 1",
+	description: "This is a parameter",
+	type: "string",
+	mutable: true,
+	form_type: "input",
+	validations: [],
+	value: { valid: true, value: "" },
+	diagnostics: [],
+	options: [],
+	ephemeral: true,
+	required: true,
+	icon: "",
+	styling: {},
+	default_value: { valid: true, value: "" },
+	order: 0,
+};
+
 export const MockTemplateVersionExternalAuthGithub: TypesGen.TemplateVersionExternalAuth =
 	{
 		id: "github",