Any good ones for less than $40?

I'd like it to be stellar overall. It should be comfortable, have quality highs and lows, etc.

What types do you prefer? Earbuds, the noise canceling ones that go in your ear canal, or over ear?

For earphones, noise-canceling. I don't really like the other kind.

I know some people like skull candy headphones:
http://www.newegg.com/Product/Product.aspx...N82E16826631036

I have some like these that sound great (if I could find them):
http://www.newegg.com/Product/Product.aspx...N82E16826106176

Hmm, sorry for hijacking but i'm also looking for some new headphones to replace the stock ones that came with my iRiver Clix 2. Definitely shouldn't be noise cancelling, i want to be able to hear traffic.

Things i've been looking at that might help the OP; Sehn PMX 70 or 80, Sehn CX 300-II or CX 500. Also the Sennheiser MX 660. For the budget (over here at least) it looks like Sehnheiser are the way to go.

Sennheiser ftw My brother has the Senheiser HD201s and with high-ish quality audio (160kbps for Spotify works well) they are very loud and detailed with good bass, and no gripes with comfort. I have the CX300-IIs (earbuds) and they stay in comfortably after you choose the right size silicone tip, you can't hear anything outside when they're plugged-in and at full volume it hurts so they're loud enough! I can headbang pretty violently and they don't fall out, so they're also fairly secure.

We've also had other Sennheiser earbuds and they've all performed extremely well.

So, overall, Sennheiser make the best kit

JVC Marshmallows
Skullcandy Ink'd, TiTans or FMJs but SCs break easily and you have to ship it to them for them to send you a new one(but they're good though, better than the JVCs)
Creative EP630(CX300s with a symmetrical cord) but I heard it's not as good as the JVCs
V-Moda Vibes are supposed to be good as well
I'd also take a look at CX400s and CX500s
But remember this: EP630s on eBay without the original packaging are fake(like the ones in the gray bag)
and watch out for fake Sennheisers
fakeheadphones.com helps you
And buy from Amazon and read the reviews

also if you buy from eBay some Sennheisers don't trust a stock photo even if it's the legit version

Skullcandys are really good and you can get them in the $20-$30 range.

I have Sony behind-the-neck pair which costs $20 (I payed $5 with a coupon. ;D). They're really good and have nice sound quality.

I'll put it like this--you're looking for a product that doesn't exist. Noise-cancelling on cheap headphones is not even a cheap trick--it's foolishness. Closed-cup headphones are possible and will dull sound in and out, but in that price range are rarely comfortable. I'll put it like this: save up a bit more money. JVC HARX700 are <$60 and are very good. Skullcandy is a joke. Beyerdynamic is out of your price-range, as is AKG, Ultrasone, & most other good manufacturers. Sennheiser has some products in your price range, though good luck finding a pair of HD-280 Pro's for <$60. On the other hand, their HD201's are OK, though not for people with big ears. I had a pair but I tossed them literally days later for various reasons. I have a pair of their HD555's which are alright, though not really that good for bass.

If you were able to deal with open designs, Koss PortaPros would be a top choice.

If you're mad about music and have a high budget, I agree with this. But if you have a lower budget and don't have the ears to pick out the difference in quality between mid-range and high-end headphones, then cheaper models like the Skullcandy headphones/earbuds are fine. I consider the £7 I spent on my Skullcandy earbuds very well spent

If you look around you could perhaps find some Sennheisers just around $40. Damn the ones I have are too good. And real comfy