Miracle Rabbit from Magic by Gosh - Trick

The magician displays a red sponge ball and claims that he will actually make it disappear in front of the spectator's eyes. Slowly and methodically, he places the ball into his trouser pocket and claims, "It's gone!" After the groans have died down, he offers to do it again-this time for real. He places the ball on top of his left closed fist and pushes it down inside. When he opens his hand the ball is seen to have changed into a large (5.5 inches tall) sponge rabbit!

Comes complete with all of the necessary sponges.