Oh, the wonders of magnetic stuff. You can never get enough of it. This magnetic wonder is called the MagnoGrip, available from ThinkGeek.

Although this is labeled as a product "for the car" I can definitely see other uses for this – particularly those who tinker around with computers and electronics quite a bit.

If you’ve built computers long enough (or even just once) you’ve probably lost a screw. It fell into the case and you can’t shake it out. You know it’s there but it permanently hides under the motherboard somewhere. With the MagnoGrip, just put the screw on your wrist. It stays there until you need it again to screw back whatever you unscrewed. Very handy.

Just make sure never to get a hard drive near the magnet for obvious reasons.