Not sure if this is a hardware issue or a software one, but here goes:
Recently, I've noticed my mouse has been jumping to random corners of the screen (typically a left corner, but occasionally the top right). It does this quite often and is extremely aggravating. It will also just randomly jump in the opposite direction of the way I'm moving it. I've switched my mouse from a USB optical to a refurbished PS/2 optical, but the problem still exists. My distro is Fedora 16, 64-bit, and I was also having this issue on openSUSE's latest distro, 64 bit variety as well.

I'm lost as to what might be causing this issue, so any help is surely appreciated. I'm more than willing to provide additional details as requested.

Thanks in advance,
Geoffrey.

If you have a mechanical mouse with a ball in the bottom, then try cleaning the ball with warm soap and water. Also, try the tiny rollers inside around the ball. They may have gathered lint or hairs. I've never seen this trouble with an optical mouse that uses a special mouse pad.

This isn't your situation since you talk about USB and PS/2 devices. I include this here since folks might visit this thread who are laptop folks with this issue.
If you have a laptop with both the track-point (eraser key) mouse and a touch-pad (eg, ALPS, Glidepoint, etc), your hand might drag the touch-pad while you try to manipulate the track-point or otherwise.

Bonne chance,
~~~ 0;-Dan

Change the mouse and re-test.

I already have.

Does this happen all the time or just in games ?

Check the surface, use an uniform color non-glossy surface and see if the problem persists.

Let's try a bit of logic here.
1. It's not the mouse, as you've tried two of them.
2. It's not the surface, as you've tried optical and ball mice.
3. It's not the mouse port, as you've tried USB and PS/2.
4. It's not the distro, as you've tried Fedora and SUSE.
The only thing left seems to be the BIOS, but I'm not a hardware expert.