This paper presents MagnaSense, the first of its kind wireless computer 'mouse' that uses two magnetometers, and principles from magnetism and electromagnetic induction to achieve performance comparable to a traditional computer 'mouse', but with three degrees of freedom instead of two. We demonstrate MagnaSense to have the ability to draw various shapes as well as write text on the screen. Our prototype of MagnaSense is affordable, non-intrusive, handy and easy to use, with the user just requiring a magnet in his hand. © 2021 IEEE.