A magnetic jewelry-forming component for preparing a jewelry article. The article includes a body member configured and dimensioned in an ornamental shape and having a first magnetizable portion for attractive or repulsive magnetic association with at least one other magnetic jewelry-forming component and at least one further element for magnetically coupling to the at least one other magnetic jewelry-forming component. Advantageously, the body member has a magnetic strength that can be overcome by a person's hand strength such that the body member and at least one other magnetic jewelry forming component can be placed in different positions relative to each other. Also, the further element includes (a) a second magnetized portion that has a polarity that is different from that of the at least one other magnetic jewelry-forming component so that it is magnetically attracted thereto or (b) a retaining structure that prevents complete separation of the body member from the at least one other magnetic jewelry-forming component when the first magnetized portion of the body member has a polarity that is the same as that of the at least one other magnetic jewelry-forming component so that it is magnetically repulsed therefrom. These components enable the jewelry article to be self-sizing by repulsion or attraction, to include the use of multiple fields to reduce damaging magnetic emanations from the article, or to control position or motion of the components in the article to provide highly desirable and unusual jewelry articles.