I thought it was very cool when, about a year ago, I learned that Milnor proved there were 7-spheres which are not diffeomorphic to the standard 7-sphere.
Let me try to explain briefly what this means. Two spaces are said to be homeomorphic if they are topologically equivalent. You can think of two spaces being "topologically equivalent," as being able to morph one space into the other without cutting or tearing the space. For example, a 2-sphere (the sphere you're used to) is homeomorphic to those Mickey Mouse ballons you can get at Disneyworld. You can get his ears by molding the sphere, but you don't have to tear anything. The two sphere, however, would not be homeomorphic to the surface of a donut. You'd have to cut a hole in the sphere to get something like the donut.
In order to do calculus (and hence, physics) on such spaces, we introduce something known as a differentiable structure on a space, making it into what's known as a differentiable manifold. The concept of a homeomorphism can then be applied to these spaces, and refined to a diffeomorphism--that is a homeomorphism that is somehow nicely differentiable.
What is surprising (at least to me) is that there are spaces that you can put a differentiable structure on, which are homoeomorphic, but not diffeomorphic. It's hard to picture what this means, as there are no such spaces in two or three dimensions.
Anyway, I thought it was cool enough when I learned that there were smooth seven dimensional spheres which are not diffeomorphic (they are homeomorphic, though, which is what allows me to call them all spheres in the first place), but yesterday I learned that there are actually homeomorphic to four dimensional Euclidean space (R^4), but not diffeomorphic to the standard R^4. These spaces are called "fake" or "exotic" R^4's, and appearently there is a countably infinite number of them. Cooler still, is that this is that 4 is the only n for which there are exotic R^n''s. Four also happens to be the number of dimensions that we live in. Interesting.
This raises the possibility (at least to me), that you could define gauge theories (like the standard model) on exotic R^4's and perhaps get some physical effects that are not part of the standard model. I have no idea what this would even mean, or if anybody does research on this (if so, I'm sure it was Witten at some point). Doing some quick searches on the archive and the internet, I only find one paper related to this idea, specifically on GR with a statement that locally physics on these spaces would be the same, but that there could be some global (but non-topological) effects. Does anybody know anything about this? Has this work been done (Dr. Z, I'm looking in your direction for comments)?