Thermoelectric magnet, material properties of alloys create a potential difference and create a magnetic field using the Seebeck effect (described here Seebeck Effect).

Heat one side of the thermocouple with the torch to get an electromagnet. Updated on: 06/21/13

There are instructions printed on the side.

Paraphrased: Suspend the magnet (the piece with the plates) from a lab stand. Immerse one copper plate in cold water and heat the other with a torch. Hold the other metal plate up flat against the magnet's surface, then release once it can hold itself up. You can try to hang masses from it, if the magnetic attraction is strong enough.