<?php
if (!is_object($TSFE)) {
	die('Error: No parent object present.');
}
/**
 * Printing current time dynamically
 *
 * @param string $content Content (ignore)
 * @param array $conf TypoScript configuration passed
 * @return string Current time wrapped in <font> tags with red color
 */
function user_printTimeExt($content, $conf)
{
	return '<font color="red">Dynamic time: ' . date('H:i:s') . '</font><br />';
}
?>

This is output from an external script!
<br />
<br />

You can get the content of the record, that included this script in $REC:<br />
<br />


<?php
debug($REC);
?>

<br />
<br />
The configuration for the script is in the array, $CONF:<br />
<br />

<?php
debug($CONF);
?>

<br />
<br />
These are global variables!

<br />
<br />
Good luck....

BTW: The time:
<?php
if ($CONF['showTime']) {
	echo user_printTimeExt('', '');
}
?><br />
<br />

<?php
$content = '(This is returned in the variable, $content, which is another option...';
?><hr /><?php
?>