The Cruncher is a flexible sleeve that wraps around the headphone cable and give you control over the cord's length. Pull on the earbuds and the cord expands out to 3 1/2 feet. Pull the ends of the sleeve and it collapses down to about 16 inches and ready for tangle-free storage.
The CordCruncher was developed by Jay Johnson who took his idea to this year's Consumer Electronics Show to look for financial backers. That led him to Kickstarter.com, a website that helps entrepreneurs get crowd-sourced funding for their projects.
Johnson hit his $20,000 target in April to start full production. CordCruncher in a variety of colors are scheduled to be available in June for $24.99 but you can pre-order one now for $19.99 at cordcruncher.com.
Here's a video that shows how the product works.