Alligator clips and banana plugs are well-known as electrical connectors.  Both of these types of electrical connectors can be used only in a single mode.  The alligator clip can only be used in a manner such that its jaws, when open, can embrace and become clipped to a wire, electrical terminal or other electrical component.  A banana plug can only be used for insertion into a jack or other recess especially adapted for receiving it.  A banana plug cannot be used like an alligator clip, and an alligator clip cannot be used like a banana plug with a jack or other device with a recess.  To try to insert a jaw of an alligator clip into a jack, for instance, would provide a faulty connection and could even cause damage to a circuit associated with the alligator clip. 
Because of these drawbacks and because of a need for more versatility in making electrical connections with clips and plugs, a need exists for improvements in connectors which provides the benefits of both an alligator clip and a banana plug.  The present invention satisfies this need.