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As you see.
Rude and crude assembly of the maglev bearing system.
The popular "mendocino bearing" type of magnetic passive levitation and bearing arrangement.
Passive because it's all permanent magnets (and gravity), no electromagnets or feedback loops.
Pencil for axle.
Good because of the concentric point and the self-lubricating quality of the graphite.
Mirror or plate glass for end plate.
Hard and smooth.
4 strong NdBFe flat magnets for suspension, poles on flat faces.
2 ceramic ring magnets, poles on flat faces, for axle.
8 small o-rings, as filler/spacers since hole in magnets are larger than the pencil.
Wooden base with saw kerfs for holding magnets.
Hot melt glue.
Makes a great desk toy or gradeschool science project.
Have fun, and be careful with those strong magnets, always keep them stuck to something if possible.