One of my favorite ideas is using an oil drip pan for a magnet board - I mentioned that in my very first post here.
You can also make your own magnets for the board, too. The most recent ones we made were magnetic craft sticks. (I got the idea from Deborah at Teach Preschool.)
The kids had a great time using this colored craft sticks with self-adhesive magnets.
We mixed the homemade magnets with our magnetic shapes.
A simple homemade resource provided lots of creative fun.
What homemade magnets have you made?