Acoustic levitation uses a resonant ultrasonic standing wave to suspend small objects; it is used in a variety of research disciplines, particularly in the study of phase transitions and materials susceptible to contamination, or as a stabilization mechanism in microgravity environments. The levitation equipment used for such research is quite costly; we wanted to develop a simple, inexpensive system to demonstrate this visually striking example of standing waves. A search of the literature produced only one article relevant to creating such an apparatus, but the authors' approach uses a test tube, which limits the access to the standing wave. Our apparatus, shown in Fig. 1, can levitate multiple small (1-2 mm) pieces of expanded polystyrene (Styrofoam) using components readily available to most instructors of introductory physics. Acoustic levitation occurs in small, stable equilibrium locations where the weight of the object is balanced by the acoustic radiation force created by an ultrasonic standing wave; these locations are slightly below the pressure nodes. The levitation process also creates a horizontal restoring force. Since the pressure nodes are also velocity antinodes, this transverse stability may be analogous to the effect of an upward air stream supporting a ball.