i was also wondering what that was,so its a ferrite magnet wtf is that for?
It's a magnetic core, which is not the same thing as a magnet (for example it has no magnetic pull unless there's a wire carrying current wrapped around it).
You use these cores in EMI (ElectroMagnetic Interference) suppression by running wires through them. Do you have an older console system like a PS2 or original Xbox with wired controllers? They use ferrite cores (slightly different form factor, same idea) on the controller cables like the arrow points to in the picture below. You can also frequently find them on USB cables. I have no idea where they expect you to use that thing in the PC though.
It is for the front USB/Firewire ports, run the cables through the ring and back through again before pluging them into the motherboard.