Magnet
Rare earth (lanthanoid) elements have a partially occupied "f" electron shell (which can accommodate up to 14 electrons). The spin of these electrons can be aligned, resulting in very strong magnetic fields, and therefore, these elements are used in compact high-strength magnets where their higher price is not a concern. The most common types of rare-earth magnets are samarium-cobalt and neodymium-iron-boron (NIB) magnets.
Magnetic levitation
This effect requires non-ferromagnetic but highly conductive materials like aluminium or copper, as the ferromagnetic ones are also strongly attracted to the electromagnet (although at high frequencies the field can still be expelled) and tend to have a higher resistivity giving lower eddy currents. Again, litz wire gives the best results.