Hacked Gadgets had this video…

The inventor of this device had this to say about it:

“I used this globe (http://www.thinkgeek.com/geektoys/science/98b8/) for the levitating part. It consists of 2 permanent magnets, and 2 electromagnets, coupled with a hall sensor to keep a third magnet (inside the globe) floating. I mounted a ordinary 20W lightbulb on this magnet, after removing the plastic globe. The light bulb is connected in parallel with a 100nF capacitor, and a coil of about 40 turns of copper wire.(diameter is about 6 cm). The base has the same coil, with the 100nF capacitor in series connected. The base-coil receives a 50volt, 30kHz square wave signal, from a half H bridge(something like this: http://lh4.ggpht.com/otp.arun/SJkzTSR90lI/AAAAAAAAAh8/fqNPHXqXa8U/s400/hbri1.JPG), with the coil/capacitor connected where the motor is drawn. The current is about 0.5 amps. It works by driving the primary LC combination at resonance. A induction current is generated in the secondary coil because of the resulting magnetic field generated. The current is then directly fed into the light bulb.”

Wow.