A paperclip can float on top of the water but will sink when soap lowers the surface tension.
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Tips
Once the paperclip is floating, a toothpick or similar object can be used to dip a small amount of soap into the beaker.
To make the paperclips easier to float, bend one end of the paperclip perpendicular to the plane of the paperclip to act as a handle (as pictured). This makes it much easier to gently place the clip on top of the water.
If trying to float a paperclip after applying the soap, make sure to clean the beaker well and wipe the paperclip clean of soap residue.