This is how I put away my mp3 player. This way I do not have to deal with inextricable knots next time I want to use it. Since I am not good with words here is a video. enjoy.
This may increase the chance of fracturing the inside cables which is bad for your headphone cord.
Disclaimer: DO THIS ON YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE OR INJURY.