Step 1: Secure the Solder Wicks Spool.....
You can buy these spools of Solder Wicks from Radio Shack, FRY's, or any other electronic shops...or buy the solder wicks online. It costs like $2 and up.
Unwrap the whicks from the spool, and wrap it onto another spool(Don't waste now) or store it somewhere for use later.
Step 2: Wind the Headphe Wires on to the Spool.
Step 3: Flip Close the Spool.