Does 4th gen iPod Shuffle comes with iPhone earphone that has mic and volume buttons?
It certainly does't come with the same ones at the iPhone, which are characterised by the 3 button inline controls &amp; mic

Checking with a touch I bought recently, it seems it came with just plain old earphones.

Previous models of the shuffle had the full inline controls on the headphones, but this was due to the lack of controls on the actual device.  They took some stick for that decision, and since reverting to the old shape they no longer do this, and as such I think they have also reverted to using standard headphones.

As for your picture, I think it means that the headphone connector, unlike on the iPhone/iPod touches/Airs etc, is a normal 3.5mm headphone only adapter, without the extra internal pinout to support a mic.  The mic is now actually located on the shuffle itself, thus not requiring you to need a headset to use the voiceover functions - check the tiny hole next to the headphone socket:



So it means that while the headphones will still work if you use iPhone headphones, or any of the other headset style ones with inline controls, the mic will not be used, and the one on the device will always be used, although it seems the remote functions for volume and next/back might be available.