Skullcandy Jibs are the budget line of in-ear headphones offered by Skullcandy, and can be found for about £10 from retailers such as Argos.
They're available in a range of 8 rather attractive colours (I got purple), and unlike Apple's basic pair, they don't tangle every time you put them in your pocket. With each bundle you get a small set of ear buds and a normal set; these can be useful depending on the actual size of your ears; I use the normal size as I find they deliver very good base, much more compared to a set of Sony earphones of the same price range.
As with all in-ear headphones, for people who are not accustomed to them they can be uncomfortable/not sound terribly great at first. However, as time passes they earphones will slowly but surely become more and more appealing; these headphones are an excellent replacement for any Apple earphones that might need replaced when one gets an iPod.
In terms of the lifetime of the earphones when used on a regular basis, they lasted for me about 3 months, and so like any other pair of headphones, I'd recommend buying a cheap insurance policy for them if the retailer offers one with the purchase. However, as they don't tangle that often, you shouldn't be needing to pull at them as much as some other pairs.
So basically, they're rather good for a relatively cheap pair of headphones; they're made by a known brand and deliver good quality and bass; while I haven't tested them on dubstep (nor shall I ever do so), for punk rock they seem to suffice very well.