Some headphones come with crazy long cords, which makes managing them a pain. If you have any long cable that you use often, then consider braiding them.
That's what as MrNurse on the Head-Fi forums does:
Loop the cord twice so that it looks like three parallel cables. The braids will start and end at each side that is looped.
Cross over the end of the cable and begin the 3-string braiding process. Make sure you don't braid too tightly, and keep untangling when it gets bunched up.
It's a method better seen than described in words, so check out the video above. The folks at the Head-Fi forum have some interesting tips too, like changing the desired length by the size of the loop.