Hey, SCIENCE NEWS has a brief article on a new form of passive magnetic
levitation. See the 7/24/1999 issue, where a neodymium magnet is
levitated between finger and thumb! A large magnet lifts a small one, and
a piece of diamagnetic material (water, graphite, etc.) above the small
one gives a slight repulsion and creates stability.
Ed P. on sciclub-list points out that Martin Simon has a photo of a
graphite-based levitator: