I am using my Taig CNC micro mill making 3D carvings in wax for my jewelry work. The very sharp pointy thing is my go-to end mill bit for doing the fine and highly detailed work. The squares are 5 x5 MM. It is a TEB10-005 Tapered Ball End Mill 1/8 x 1-1/2 10° .005. Not cheap at $37.00 each. It does excellent carving with the Taig and the results show the Taig is up for running bits this small. There is actually a ball on the end.Follow the link to BitsBits.com where I get these tiny mill bits.
The other item is of course a common #2 pencil point just for comparison. I have a digital microscope I operate on my Linux box and it is great for inspecting the ends of these tools and taking pictures. I also find the scope useful for examining SMT components on today’s very small circuit boards.
Machine tools this small are rather fragile but wax is a wonderful medium for machining. Bits & Bits has a huge selection of these micro mill buts if you are in need of doing very tiny and precise milling.