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.
Plastic magnet
In February 2002, researchers from Ohio State University & University of Utah developed the world's first light-tunable plastic magnet.
The plastic material became 1.5 times more magnetic when blue light shines on it. Green laser light reversed the effect somewhat, by decreasing the material's magnetism to 60 percent of its normal level. The plastic magnet was made from a polymer made of tetracyanoethylene (TCNE) combined with manganese (Mn) ions -- atoms of the metal manganese with electrons removed. The magnet functioned up to a temperature of 75 K (about -200ºC, or -325ºF).