It was a sophomore project, several years ago. I'll explain it to you.
You have two magnets at the ends of a short tube that had long faces cut out of it (both facing the same direction). Then inside you put a magnet facing the opposite direction so that its + side is facing the + side of the outer magnet and the - side is facing the - side of the opposite outer magnet. This, by itself, will give you a magnet floating between the other two.
I then attached a gear to the floating magnet which controlled a very small balance on the side of the tube. The balance had arms reaching toward the top and bottom of the tube and had very thin magnetic shielding sheets on the ends.
To get the experiment started, you manually force one end of the balance into the opening on the tube, placing the magnetic shielding between the floating magnet and an end magnet. The opposite end magnet would then push the floating magnet up to the magnetic shielding. However, as the floating magnet approaches the magnetic shielding, the gear attached to the floating magnet would turn the balance causing the magnetic shielding that the floating magnet was approaching to slide out of the tube. Simultaneously, the opposite side of the balance would insert the opposite piece of magnetic shielding into the tube. The floating magnet would, at this point, be influenced by the magnet it was approaching (that was shielded) and would change directions returning to the other side of the tube, which was now shielded allowing the floating magnet to approach the end magnet. Then as it returns, the gear would swap shielding again and would continue to repeat the process indefinitely.
This experiment was only done on a small-scale. The magnets were about 1/4" in diameter and the entire tube was only about 1" long. I've never had the resources to test it on a larger scale. It's also just an illusion, really, because I doubt the force of the magnets would be strong enough to produce any kind of real applicable energy. It's also, as I mentioned already, NOT perpetual motion because the magnets are consuming their fields as they interact with each other. Also, several other factors can decrease the strength of the magnet, so it really wouldn't last forever. I do wonder how long it would last though.
Also, I have since seen small rare Earth magnets that are the same as the ones I used, but with tiny holes drilled in the center. They may make a better solution than the modified tube I was using, as you could just put a rod down the center of them.