PSR suggests, method names MUST be declared in camelCase and class names MUST be declared in StudlyCaps.
5 Answers
StudlyCaps, also known as PascalCase, implies that the first capital of each subword is capitalized. camelCase implies, like a camel, that the humps are in the middle, therefore the first letter is not capitalized.
Compare Microsoft's standards for .NET.
Other well known capitalization styles are snake_case, where all words are concatenated in lowercase with underscores, and kebab-case, which is identical but uses a hyphen.

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3It's worth noting that outside of PSR, studly caps refers to ArbItrAry cApItAlIzAtIOn. https://en.wikipedia.org/wiki/Studly_caps – broofa Aug 17 '19 at 13:35
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1In fact, StudlyCaps seems to be same as CamelCase. The CamelCase you explained is the "lowerCamelCase", which put the first letter in lowercase. – Florian Doyen Feb 25 '20 at 14:22
CamelCase is where the first letter of each sub-word in a name is capitalised. The first letter of the whole name can be upper or lower case, and is generally (always?) lower case in programming.
StudlyCaps is a little weird. There are capital letters, but they can be at any letter according to some rule, not just the beginning of a sub-word. The classic example is (was) HoTMaiL.
My understanding of the PSRs is that their intention is that each sub-word should be capitalised in both instances, with classes having an initial upper-case letter and methods an initial lower-case letter.

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In PSR-12 there is an explanation of what they meant by StudlyCaps:
The term ‘StudlyCaps’ in PSR-1 MUST be interpreted as PascalCase where the first letter of each word is capitalized including the very first letter.
source: https://www.php-fig.org/psr/psr-12/#21-basic-coding-standard
TL;DR
For clarity, there are two versions of camel case:
- UpperCamelCase (initial uppercase letter, also known as PascalCase)
- lowerCamelCase (initial lowercase letter, also known as dromedaryCase).
Some people and organizations, notably Microsoft (and seems the authors of PSR-1 too), use the term camel case only for lowerCamelCase.
PascalCase (or StudlyCaps) means exactly UpperCamelCase.

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i call it actually PascalCase when the identifier has two words each one begins with capital letters.. and i use it in C# for methods names, and camelCase for variablesNames, instanceFelds.. ClassNames also for PasaclCase..

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camelCase:
$camelCase
$myVar
Only first letter of sub-words, not first letter of the property itself should be uppercase
StudlyCaps:
$StudlyCaps
$MyVar
property starts with uppercase also first letter of sub-words
maybe find it useful: psr property naming recommendation

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