Grab an old credit card and a pair of scissors. Boom! You are about to solve one of life's least important problems.
Step 1: Snip card in half.
Want bonus points? Round them corners.
Want more bonus points? Use a defunct baby-bell calling card!
Step 2: Notch Away!
Notches should be angled roughly as pictures.
Take care to make the opening of your notch only slightly bigger than cord (about 1/16th of an inch)
Make the interior of the notch wider than the opening, but narrower than your plug (about 3/16th of inch)
Note: Spandox suggests using a hole punch. Great idea.
Step 3: Wrap Cord
When you get to the buds, tuck them into their notch.
Step 4: Usage
I usually keep my iphone in my shirt pocket, as you can imagine without this cord wrapper my cord is always in the way.