A MAGNET is an object that attracts other objects due to its magnetic field. It is made up of a material with unpaired electrons, such as iron, nickel, or cobalt, which creates a magnetic field around it. Magnets can be used to attract or repel other magnets, or to attract ferromagnetic materials such as iron, steel, and nickel. Magnets are used in many everyday items, such as compasses, motors, and speakers.