1. A combination arc brazing and arc welding electrode holder comprising a pair of handle parts cooperable with one another for use either as an arc brazing electrode holder or an arc welding electrode holder, said handle parts being movable between a closed position in which said two handle parts are in closed side-by-side relation and an open position in which at least one end of said handle parts are spaced from one another, an electrode clamp carried on said one end of each of said handle parts, a power lead connected to each of said clamps, means in each of said handle parts for holding respective said power lead, one of said clamps together with its respective power lead being removable from its respective handle part, said holder being usuable as an arc brazing electrode holder when said handle parts are in their open position and when both of said clamps are carried by their respective handle parts so as to support a pair of arc brazing electrodes in proper arc striking and maintaining relation, and when said one clamp and its electrical power lead are removed from its respective handle part and when said handle parts are in their closed position so as to hold a single electric arc welding electrode and so as to be adapted for electrically grounding a workpiece to be welded.