Touch the magnet to the wire. It should magnetically attract and stick to the wire.
Connect the clip leads to the terminals of the lantern battery. Connect one clip lead to one side of the wire, and touch the other clip lead to the wire on the opposite side of the magnet. Current will flow through the wire, causing it to heat up. Be careful—the wire will get hot! As the wire heats up and begins to glow, the magnet will fall away from the wire.
Take a clip lead away from the wire and let the wire cool. When the wire is cool, notice that the magnet will stick to it once again.
If the wire does not heat up enough to glow red, move the clip leads closer together.