Qion
Uber Nothing
That would be a degaussing coil, and that iMac already has one built-in, and won't really help with a fuzzy screen. You can try adjusting the video focus, but you have to remove the bottom case to get at those controls. Anyway, some of the older iMacs are as sharp as they will ever get.
The degaussing coils lose power and range as they age, as you probably know.