There are hundreds of “solutions” to the problem of how to manage your mp3 players’ cables.
I’m quite keen on wireless headphones myself, but for those still struggling with stereo spaghetti, here’s a new option.

Today’s invention is to embed the player within a yo-yo and to use the mp3 cable as the yo-yo’s string. Obviously the player would be allowed to rise only as far as the user’s hand, not right up to the “v” leading to the earpieces.
This would be useable whilst the music played (without doing too much damage to the wires) and then instantly self-stowing on the final rise of the yo-yo.
An entertainment win-win.