If you want awesome sound, comfort and quality for $40? Panasonic. I know its not the "coolest" brand, but compare the specs to any expensive buds like bose and sennheiser, they are right there. Skullcandy are just trendy shiny things that sell to kids but sound like tin.
Heres a quick comparison between some random skullcandy phones for $50 and these panasonic and some high end sennheisers:
SC: Frequency Response: 20Hz - 20KHz
Pan: Frequency response 6Hz – 24kHz
Senn: Frequency response 16Hz - 24KHz
Trust me, you will notice the range.
Edit* These are also super comfortable, most headphones hurt my ears after a while, but these can stay in for hours and your toque/helmet wont move them around if you wear them riding.