A magnetic alligator clip is described. The alligator clip comprising, a pair of conductive gripping jaws attached to each other, biasing means for biasing a first end of the conductive gripping jaws towards each other, and a magnet disposed at the first end of one of the conductive gripping jaws. Also described is an electrical lead having at least one wire, each of the wires having a magnetic alligator clip electrically connected at each end. An extension for the magnetic alligator clip is also described.