There are two versions of this "magnet"; the first craftable version will pull blocks towards you once it has been activated. It will pull anything on the ground in a seven-block radius. The item dislocator can be toggled on and off by shift right-clicking with it in hand. The upgraded version will pull any block on the ground within a 20 block radius.
This magnet is a little smart, and it will not pull blocks if there is someone else closer to the blocks, and it will have a small delay before pulling in blocks.