All traditional magnets are dipole (they have both North and South poles) and are the result of an electric field generating a magnetic field as a result of Ampère’s law, or due to an intrinsic electron dipole moment for certain elemental particles. Quantum mechanics suggests the potential for an isolated magnetic pole without its dipole equivalent (a North without a South or vice-versa), which is termed a magnetic monopole.
The properties of magnetic monopoles can be tested using an experimental design made from a hollow shell penetrated by multiple electromagnets that produce identical magnetic fields radially aligned from the center of the apparatus. This shell must be formed using diamagnetic material, like pyrolytic carbon, or a superconductive material cooled below the point at which the Meissner effect excludes magnetic field lines. By varying the field in the electromagnetic coils, the magnetic field within the apparatus should vary as well to allow experimentation on the effects of interaction with the virtual magnetic monopole created within its central volume.
Just as a flow of electrons through a loop of conductive wire produces a virtualized magnetic field as desired, this design should allow the creation of a virtualized magnetic monopolar state for test and experimentation.
A more complete description of this design is available on my personal blog: http://www.kkhausman.com/2012/06/06/virtual-magnetic-monopoles/