It's a brushless DC Motor. It's plastic so it's novelty more than anything. It was fun to make so I decided to post it. Check out the video for the finished product. 

This is a dangerous assembly to operate. Please use the same safety procedures that apply to other motor applications as well as the common sense that comes with revolving magnets inside of a plastic rotor that's been inserted into a plastic stator which has electricity applied to the wire that you've wrapped around it.