This thread will tell you how to fix your Xbox's disc tray. If you Xbox will not open or close this is for you. There are some odd  methods to getting it open, including smacking the top of the console after hitting the open button, sticking a small metal wire (a straightened paper clip works great) into the hole next to the disc tray, or just prying it open (I do not suggest that!).

Ok before we get started I will tell you what you will need.

A few q-tips (cotton swabs)
Rubbing alcohol 
A cloth
Tweezers
A flashlight

Now, hook up your Xbox (just the AC power cord). Use one of the methods above to get it to open. This takes for ever so don't give up. After you finally get it open, keep the disc tray open and unplug the console. Take your flashlight and tweezers. Shine the flashlight into the console, you will see a little black rubber band, remove it with the tweezers (carefully!). Take your q-tip and dab it into your rubbing alcohol (dampen it) and swab the parts that the rubber band was on. Clean the disc tray as well. You can hold the q-tip on those parts and push the disc tray open and closed (NOT ALL THE WAY, just a little) to make the parts rotate and clean all the way around. Now take your rubber band and clean it with water (Not the alcohol). When you feel everything is clean, take the rubber band back on your tweezers and put it back the way it was before you removed it and close the tray, Oh and remember to dry the rubber band with a cloth or really anything before putting it back! Now plug your Xbox back up and click the open button. It should open and close just fine now!

If you can't get the rubber band out or don't want to try, you can do this. Do the same as what is above up in till the removal of the rubber band. Dampen a q-tip with WATER. Clean it they way I described above and it should work the same as it would taking the rubber band out. It is just a little harder to get it all clean.

Remember to unplug your console and if you do mess up something in your console doing this (I don't know how you could) it is your fault, not mine. I am not telling you, you have to do this, and I am not your mama, do this at your own risk but it worked great for me.

I have only seen this method once on Youtube. This is my own words on how to do it and the way I did it. This is the best way to fix the problem. Good luck everyone and have a nice day!

Just to be sure, is this meant for the very first Xbox, or for the Xbox 360? (or possibly both?)
I have an Xbox 360 which disc tray won't open unless I press the button for five minutes, and I'd love to fix the problem sometimes...

OrdannonsX : This is just for the original Xbox console not the Xbox 360. There is a video on Youtube that will help you. Just search something like "xbox disc tray wont open" and it should come up. Good luck with it man. It really stinks when consoles have problems like that.

GenesisJunkie : OMG! NOW YOU TELL ME??? I just bought an xbox  online about a month ago. It was my first Xbox ever and I was really excited, but of course, I couldn't get it to open and I thought about returning it. Of course, I never gotten around to it, so I still have it, I tried it out and it worked after a few attempts. Thanks for this. 

zanderlex : Your welcome. Mine keeps messing up because its previous owner warped the door by prying it open so I will have to buy a new one (which really sucks). You may have to clean it again every now and then but it should work fine for a while.

This is an update. I think I have my Xbox fixed. The disc drive panel (the little bar that says Xbox) was broke from where the previous owner pried it open. What I did to fix that is, I got some super glue and lined the bar up with where it goes and glued it on. It seems to work great now with the cleaning and and panel being glued back right. I opened it and closed it a few times with and with out a game in it. Now, I am still worried that it will mess up but for now it seems to be working the way it should.