Ferrofluids were originally discovered in the 1960s at the NASA Research Center, where scientists were investigating different possible methods of controlling liquids in space. The benefits of a magnetic fluid were immediately obvious: The location of the fluid could be precisely controlled through the application of a magnetic field, and, by varying the strength of the field, the fluids could be forced to flow. Researchers have prepared ferrofluids containing small particles of ferromagnetic metals, such as cobalt and iron, as well as magnetic compounds, such as manganese zinc ferrite.
The amazing video below is by artist Paul Brenner and shows off how ferrofuids can be manipulated both in a practical and artistic sense.
