"Swap Item" magic

I was musing on the possbilities of a spell or item that, when cast or
used upon two hand-held items of any kind (weapons, tools, musical
instruments, etc.), would allow anyone holding one of the items to
instantly swap Item A for Item B, and vice versa. The point of the
spell is to instantly exchange one item for another when a situation
quickly changes; a bard could swap his mandolin for his rapier when a
performance goes bad, or a fighter could swap his bow for his greataxe
when the enemy gets too close.

It's unlikely that I'm the first person to think of this; is there
already a spell or magic item that does basically what I'm describing?


--
Jay Knioum
The Mad Afro