A workspace includes client-side folders on the local disk mapped to version-controlled folders on the Team Foundation version control server. You can change version-controlled items in the client-side work folders without changing the version-controlled items on the server. Changes are marked as pending changes in the local workspace. When you perform a check-in operation, you commit client-side changes to the server's source control folder.
You can synchronize your workspace with the most recently checked-in changes on the server by using the Get Latest command.
If you want to have multiple copies of source-controlled items on your computer, you can create more than one workspace for a specific source control server.