We have a happy child on a turning carousel. The child represents an electron, so s/he holds a bar magnet (representing the spin of the electron, dipole contribution) and an electrically charged ball (representing the charge of the electron, orbital contribution). The magnetometer is on the axis of the carousel and represents the nucleus, which measures/feels a magnetic moment.
For the Fermi contribution, I was thinking of something like the child throwing the ball to the middle of the carousel, and if s/he throws hard enough, it could go through the decoration. Then it is close to the spinning axis. I’m sure the owner will get that ball out of there (and will be very mad at the child), so the electron can penetrate the nucleus and get out of it again!