We built a simple structure of seven dipole neodymium magnetic balls, a magnetic spinner that easily rotates around its central ball. This proved to be a very simple magnetic oscillator-rotator with a dipole-like field. After capturing videos of its rotating movements in different magnetic fields, video analysis has provided us with the rotation angle-time function of the motion, either in the case of a stationary magnetic field (damped oscillation) or an alternating magnetic field (forced oscillations). We were able to obtain a numerical solution for the differential equation describing the motion, a solution which was in tune with the special phenomena observed. It was especially interesting—and can be utilised in physics education—that the oscillation of the system was very strongly dependent on the initial conditions and seemed to be quite chaotic. The rotation angle, angular speed functions and their representation in phase space have shown the characteristics of chaotic behaviour, especially in the case of coupled oscillations. Thus, this kind of chaotic movement can be demonstrated very simply, even in classroom conditions by the use of such magnetic systems. At the same time, such models might help in the scientific understanding of magnetic nanostructures—their self-assembly and motions in alternating magnetic fields—which is the basis of practical applications such as magnetic hyperthermia.