while messing around with my sister's 50$ toys 'r' us bike, i accidentally dropped the seatpost down into the frame. ok, no biggie. i flipped the bike over and shook it up and down. no seatpost. i banged on it w/ a hammer. still no seatpost. ok so how do i get it out? its about a foot down in there.
I dont know what they are called, but find one of those stems that when you tighten the screw on the top a wedge down into the steerer tube expands (a wedge). Then wrap it in scotch tape and then an outer layer of double sided foam tape. Get the right combination of tape thickness so that you can stick the end with the tape into the seatpost, but with very little space to spare. Then tighten down the screw on top and it will expand the wedge. With a little tugging it might just come out.