The Replug utilizes the magical power of magnets to protect your expensive audio equipment. I hate to do the comparison, but think of it like the Magsafe adapter on Apple's MacBook, minus the proprietary functionality, and it's for audio rather than power.

A small magnetic adapter is plugged into any standard 3.5 mm audio jack. Another converter is attached to the jack from your headphones that will magnetically connect to the audio jack adapter. If there is an accident (dropped MP3 player, tripping over a wire, etc.) the Replug converter will simply fall away from the jack rather than potentially damaging it or choking you with the headphones. The Replug should be available in the coming months, according to the manufacturer. And yes, we are saying, "Why didn't I think of that?" as well. — Travis Hudson

Replug. via CrunchGear