It enables you connect/use two channels at once, like in my application, i get more gain/power from the keyboard Amp by plugging into two separate channels, and you can use more channels (in my case, four) on your keyboard Amp by using both the Left and Right output from your keyboard

The 1/4" leads are labeled with "ring" and "tip" so you know for sure which is the left and right channel.

It separates the stereo input into the left and right channels.

The mono ends are clearly and correctly marked for Ring (Red, Right-channel, Return) and Tip (White, Left-channel, Send).

Works as it should between an audio interface and headphone amp.

Works as you would expect a cable to