This is a PK Tee, to be used with your own PK Magnet. This tee has been gimmicked and contains a magnet. You can make it move or stand, or you can detect it in a group of envelopes or cloth bags.
A fun bar bet is to drop the tee from a few inches above a table and make it stand, balanced on its round (ball) end. It is impossible, unless you have a second magnet below the table. Lots of fun things can be done with a PK Tee. Examinable.