Moshi 3.5mm Audio Jack Splitter is retailing for S$20.90 and has a feature that most audio splitter doesn’t have (even the overpriced Belkin Audio Splitter), which is the ability for one of the two connected earphones to support microphone.
An audio jack splitter allows two person to share music from just one device each using their own earphones. Moshi did a very good implementation by allowing one of the earphones to be the master (the one with the microphone icon) and hence the ability to use the microphone (if your earphones comes with it) to answer any incoming voice/Skype calls. Of course, if the other party’s earphones are still plugged in, he or she will be able to listen to your conversation.