If you haven’t played with one of these in a while, you may have forgotten just how cool this toy is. As far as educational toys go, there really are a lot of scientific principles at work here. Angular momentum, centripetal force, precession, and quite a few more. Here’s a crafty little youtube video showing a simple gyroscope at work. I’m not sure who this chap is, but he sounds English. The site the video points to shows where you can pick one up (if you live in England or don’t mind shopping with pounds). Of course if you’re reading this in the good ol’ United States, you can pick up Tedco’s Classic Gyroscope at Atomic Elephant Toy. I think they pretty much have the best prices out there.
Plus, they have an interesting article on the physics behind the gyroscope. You don’t need to go into all of that though, unless you’re a complete nerd. Just pick up a gyroscope and start playing. Don’t over think it; just have fun.