Answer:
I can fall off a building and live, but in water I will die. What am I?
My first is a heir; My second's a snare; my whole is the offspring of fancy; which I sent out of play upon Valentine's day As a token of love to my Nancy.
In buckles or lace, I help set the pace. The farther you go, the thinner I grow. What am I?
I am lighter than the material I am made of. You see parts of me but more of me is hidden underneath.
What gets bigger the more you take away?
No matter how little or how much you use me, you change me every month.