I need to raise a 120 gram object to a height of 06 feet using
magnets.  Supposedly, a large base magnet should be placed on the
floor and then magnet or magnets attached to a string are used to
"walk" the 120 gram object "up" to a height of 06 feet.  I am not at
all sure what the 120 gram object should be--perhaps it could even be
magnet(s) itself.

The teacher has said that when we realize how simple it is, we will
"kick ourselves in the behind"!

Thank you,

Stevan

Easy!

(Assuming that the object is metallic.)

You place a magnet (or magnets) on the object and then lift the
magnet(s) above your head ...

If you cannot reach 6 feet, you stand on a chair (or whatever).

Now, as for kicking yourself in the behind ... That's more difficult.

Better kick the cat instead.

(Only joking.)

Have you thought about a pulley system?  String tied to an object up
to a pulley(or over another string, horizontal, above 6 feet), with
enough magnets on the other end of the string to weigh it down.  As it
starts to lift the object the base magnet on the floor will pull it
down faster until it connects.

Have you thought of an electric motor?   that contains magnets

If you can use magnets, why not a coilgun:
http://www.oz.net/~coilgun/home.htm

-mike