Can't even begin to explain this but it is damn cool nonetheless. Science is neat. I can see the future application now...a new Lazy Susan.
http://www.youtube.com/watch?v=Ws6AAhTw7RA
Description from their website, Quantum Levitation:
A thin superconductor layer (~1µm thick) is coated on a sapphire wafer. Quantum physics tells us that the magnetic field penetrates into the superconductor in the form of discrete flux tubes. The superconductor strongly pins these tubes, causing it to float in midair. This effect is called ‘quantum levitation’.