The domain dynamics in Co/Pt multilayers were experimentally investigated with a 10 ns exposure time magneto-optic microscope system. The images obtained reveal that during domain formation a ring shaped magnetization structure is temporarily created which is often larger than the final domain size. The width and intensity of this ring varies with applied field. This is believed to be due to a wide region of in-plane magnetization which occurs where the film temperature is only slightly below the Curie temperature. Observations of erasure show that erasure occurs in less than 50 ns, but requires a large reversed field to be successful.