We know that the Mandelbrot set is derived from the iterations of z^2 + c.
Do anyone know something about magnet Mandelbrot? I found it in the software UltraFractal, and it is much more beautiful than the original Mandelbrot, in my opinion.
Do you know anything about it? What is it iterating?
EDIT: Here's a picture of a magnet Julia set


I searched Google for "magnetic fractal", and found the answer on the first hit. It quotes the Fractint documentation (I can't resist mentioning that Fractint is the grand-daddy of freeware fractal-generating software for personal computers -- it had its first release in 1988, and is still being maintained!):
The formulas for the two fractals are also given there. They are $$z \mapsto \left(\frac{z^2 + (c-1)}{2z + (c-2)}\right)^2$$ for magnet 1, and $$z \mapsto \left(\frac{z^3 + 3(c-1)z + (c-1)(c-2)}{3z^2 + 3(c-2)z + (c-1)(c-2) + 1}\right)^2$$ for magnet 2.
I'm by no means knowledgeable on this subject, but I've been looking at some of Robert Devaney's papers, which I came across via tetration.org. Looking at Devaney's images, I'd guess that the reason why these fractals have the beautiful Sierpinski-gasket-like structures, while the standard quadratic Julia and Mandelbrot sets don't, is that each of the formulas defining these fractals is a rational function, that is, a ratio of two polynomials, rather than a single polynomial. I believe the field that studies these things is called complex dynamics. My knowledge doesn't extend to how rational functions with poles give rise to Julia sets with gaskets, but you could try looking for the answer to that in some of Devaney's papers, or in the book Iteration of Rational Functions by Alan F. Beardon which is cited in the Wikipedia article on Julia sets.