This is a background on this bizarre substance and how it came to be from wikipedia:

A ferrofluid (portmanteau of ferromagnetic and fluid) is a liquid that becomes strongly magnetized in the presence of a magnetic field. Ferrofluid was invented in 1963 by NASA’s Steve Papell as a liquid rocket fuel that could be drawn toward a pump inlet in a weightless environment by applying a magnetic field.^[1]

Ferrofluid has been submersed in sugar water. Sugar has been added to increase the density of the water to the point where the ferrofluid appears weightless

Ferrofluids are colloidal liquids made of nanoscaleferromagnetic, or ferrimagnetic, particles suspended in a carrierfluid(usually an organic solvent or water). Each tiny particle is thoroughly coated with a surfactant to inhibit clumping. Large ferromagnetic particles can be ripped out of the homogeneous colloidal mixture, forming a separate clump of magnetic dust when exposed to strong magnetic fields.

We hope you enjoy this cool video.  And don’t try this at home without the supervision of a professional.