A CNAME (Canonical Name) record creates an alias between hostnames in the same domain or in different domains.
A DNAME (Delegation Name) record creates an alias between different domains.
For example:
NS1 is authoritative for the left.org domain:
left.org DNAME right.com
NS2 is authoritative for the right.com domain:
www.right.com A 1.1.1.1 *.right.com A 2.2.2.2
All DNS queries for a hostname in the left.org domain are answered with an alias that points the same hostname, but in right.com domain:
C:\>nslookup
>www.left.org
Name: www.right.com Address: 1.1.1.1 Aliases: www.left.org >right.left.org
Name: right.right.com Address: 2.2.2.2 Aliases: right.left.org
References
RFC 2672