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VideoPyrolytic graphite.
Ed reports: The source (and inspiration) was this page about magnetism. The details for making pyrolytic graphite are on the site. The main point of these samples is that they have the highest diamagnetic effect of any material (the degree to which it will repel a magnet). The diamagnetic effect is strong enough that a piece of pyrolytic graphite will levitate over neodymium magnets, as you can see in the video.
Source: Science Toys
Contributor: Ed Pegg Jr
Acquired: 15 April, 2002
Price: $2
Size: 1"
Purity: >99%
Carbon