Magnets have a lot of applications.  They are used in electric generators and motors.  They are found on maglev trains and even on a compass.

And there is yet another good use for magnets: decorative papers such as maps, fliers, stamps.  You can sell these to your friends and classmates in school.

 

What you need:
Bottle Cap Magnet

Bottle Cap Magnet

Bottle caps

Soap and water

Towel

Button magnets

General-purpose glue

Clear sealant or decoupage glue

Paintbrush

Paper for decoration, such as map, old letter, flier, stamp

Cardboard to make template the size of bottle cap top

Ink pen or marker

Scissors

 

What you will do:
  1. Rinse bottle caps in a mild soap solution.
  2. Dry well with a towel.
  3. Make a template the size of the bottle cap out of thick card-board.
  4. Draw around the template to create circles on decorative paper.
  5. Cut out the circles using scissors.
  6. Attach the paper circles to the tops of the bottle caps with decoupage glue.
  7. Paint decoupage glue over the top of the paper and bottle cap to seal it.  let it dry.
  8. Glue button magnets to the underside of the bottle cap with general-purpose glue.  Let it dry.

 

Source: 

http://www.hgtv.com/hgtv/cr_home_accessories/article/0,1789,HGTV_3265_4939547,00.html