These circular arrays of magnets on the two pieces repel each other. It isn't possible for static magnetic fields to float stably, so it always finds a point where the edges of two magnets connect and the others repel each other. But, then it is fairly stable and returns to its equilibrium. It works like a magnetic spring and just wobbles.
While this isn't the best use of 6mm magnets, it um. Well. I'll just leave it there.
Here's a quick video that shows placement and wobbling.
The author marked this model as their own original creation.