Many times around I've wanted to build a Jacob's Ladder but haven't had the time to. When I ran into the Tumbling Rings, I was delighted. And so, here it is. It is an awesome physics toy that is hard to describe. I think you should consult a professional physicist for more thorough info.
UPDATE: IF YOU NEED HELP GOING BACK TO STEP ONE SEE THIS VIDEO.
Step 1: Get the Parts.
For Demonstrational Purposes: (teachers)
30-100 colored binder rings (make sure the rings are not too small to manipulate but not so large that they touch the ground.)
A LOT OF TIME
For everybody else:
30-100 key rings (binder ring, will work.) (For the magic to work, they shouldn't be colored but it is okay if they are.)