Phases of matter are conventionally characterized by order parameters describing the type and degree of order in a system. For example, crystals consist of spatially ordered arrays of atoms, an order that is lost as the crystal melts. Like- wise in ferromagnets, the magnetic moments of the constituent particles align only below the Curie temperature, TC. These two examples reflect two classes of phase transitions: the melting of a crystal is a first-order phase transition (the crystalline order vanishes abruptly) and the onset of magnetism is a second- order phase transition (the magnetization increases continuously from zero as the temperature falls below TC). Such magnetism is robust in systems with localized magnetic particles, and yet rare in model itinerant systems where the particles are free to move about. Here for the first time, we explore the itinerant magnetic phases present in a spin-1 spin-orbit coupled atomic Bose gas; in this system, itinerant ferromagnetic order is stabilized by the spin-orbit coupling, vanishing in its absence. We first located a second-order phase transition that continuously stiffens until, at a tricritical point, it transforms into a first- order transition (with observed width as small as h x 4 Hz). We then studied the long-lived metastable states associated with the first-order transition. These measurements are all in agreement with theory.