Your question is very poorly stated.
Which direction are the magnets arranged? Do they attract or repel?
If they attract, the magnets cause the blocks to stick together, and travel at a common post collision speed. This would imply an inelastic collision.
If they repel and the magnetic force is the only interaction force between the blocks, it is a truly elastic collision. This is because the magnetic force between two permanent magnets is a conservative force, and kinetic energy is conserved from pre-collision to post-collision.
What is plasticine? Is it a rubber-like material or is it an adhesive? Does your teacher expect you to know this?
If it is rubber-like, then elastic forces are the force of interaction during the collision and the collision is thus elastic. This assumes no friction effects in the plasticine material. Think two bouncy balls colliding. The bouncy ball almost reaches the same height from which it was dropped upon rebound. Because such a collision may not be fully elastic, the coefficient of restitution is defined to quantify how elastic a collision is.
If it is an adhesive material (like a glue or putty), it causes a sticking between the blocks. When the blocks stick, they end up moving at a common post-collision velocity.
Definitions of elastic vs inelastic collisions:
In any collision, regardless of adjective, momentum is conserved. This is assuming that the net impulse of external forces is negligible during the collision.
In an elastic collision, kinetic energy is conserved additionally. Coefficient of restitution equals 1 in an elastic collision.
In an inelastic collision, as much kinetic energy is dissipated to (heat, sound, material damage) as possible, while still being able to maintain the conservation of momentum condition. Coefficient of restitution equals 0 is an inelastic collision.
In an "in-between" collision, coefficient of restitution is defined as the ratio of velocity difference after/velocity difference before. It is equivalently defined as the deformation impulse/the restoring impulse. This quantity is used to predict the behavior post collision of a partially elastic collision.