^^, svideo, is a video only cable that will carry a better video signal than the one posted below. You will need to use a seperate audio connection.
^^ is 3 cables, one carrying video, one carrying left audio, and one carrying right audio. A common setup is replacing the yellow audio cable with the svideo cable you posted above, giving you a better video signal than the 3rd cable in this setup would for video.
What a few people in this thread probably mean when they say a better video signal is "Component" Video, not composite.
Component video is 3 cables dedicated to video (and the best video connection available right now). You would need these 3 cables plus an audio connection.
You could use the left and right audio cables from your "composite" cables to carry the audio along with the component video cables, however at that level you would most likely want to use an optical connection which would give you a much much better audio quality.
And no, I'm not a big audio/video geek, I just like my toys
