With those two words, I set off of gathering the vast amounts of materials that would be needed to fix our headphones. All one item.
(This all seems very self explanatory, but I've ran into many people who've never heard of this product or what it does. It's for that reason that I'm putting this here!)
Step 1: Materials
Seriously...that's all you really need. I found types of Liquid Electrical Tape type products when searching for this, but I haven't tested any of them so I can't really recommend them.
If you want to take things the extra step:
Bowl (you wouldn't mind throwing away)
Toothpick, Small Stick or Small Brush (that you wouldn't mind throwing away)
Step 2: Prepare to dip!
Open up the Plasti Dip container and prepare to dip.
(if you want a little more flexibility in your dipping, you can pour the dip into a wider mouthed bowl, so you have some extra room to maneuver).
Step 3: Dip!
Once completely coated, hold over dip, and shake off excess liquid still stuck to headphones. No need for huge lumps, try to shake it out a little bit and get things as smooth as possible.
If you're happy, blow on it a little bit, and it will harden the outside of the dip on your headphones cord. Make sure you blow away from the open container of dip, as the fumes will not put you in a happy mood.