Bill Beaty has created a neat way for magnets to be levitated. If you build it please be cautious since you could loose your hand if you aren’t careful.

"While working on science museum exhibits in 1990 I came up with the above idea: it is known that a spinning metal disk will lift and fling a strong magnet. Therefore, metal rods with opposite spin will lift a magnet but WON’T fling it sideways. It works! I used "sched-80" heavy wall copper tubes about 1-3/8" diameter, 12" long, with 1/4" wall thickness. I hammered aluminum plugs into the tubes, carved shaft-tips with a lathe, built endblocks and bearings, spun them with an AC/DC motor, and managed to levitate a stack of two 3/4" diameter neodymium magnets. The spinning tubes must move at about 5000 RPM before the magnet starts floating. "