Displacer Object
Wouldn't it be nice if you could use displacement effects (see Displacement Mapping) using a deformation object so that they would be directly visible in the viewport?
Have you ever been annoyed that it took endless trial and error to find out where the displacement extends to in order to align other objects with it? The Displacer object does exactly that: it shows you the displacement via object deformation in the editor and is not only evaluated or visible at render time.
It works as a deformer object and must therefore be grouped as a child to the object to be deformed (or be located at the same hierarchy level under a common parent-object). Make sure that the object to be displaced is sufficiently subdivided.

Of course, the Displacer object also works with all other MoGraph objects. Here, for example, a Ring was deformed using a Displacer object and a Noise Shader and then a Sphere was cloned using the Cloner object in Object mode.

For example, if you animate this Ring in its position and assign world coordinates (Space: World) to the Noise, you can imagine that spectacular morphing blobby effects will occur.