Using a 3 color LED, a 57mm Ferrocell and a 1T cylinder magnets (Starter Kit) is a quick and easy way to begin "bending light".
Here's the setup:
The magnet is partially covered with black shrink tubing to cut down on reflections (top left). I've wrapped a white wire tie around the cell and fixed it into a small adjustable clamp (center, bottom).
To provide power and to switch colors on the LED, I've soldered a 3 volt coin-cell holder on to a multi-position switch I'm not using series resistors because the coin-cell doesn't put out enough current to damage the LED. One of these small batteries will run this LED continuously for about 3 weeks straight. If you use a power supply instead of the battery, I strongly advise putting a 1K resistor in series with each (+) lead on the LED:
and extended the LED's leads with a length of multi-colored stranded wires: I put shrink tubing over these to prevent shorts and fixed it into position below the cell with a small adjustable clamp.