Answer:
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.
What goes up a chimney down but can't go down a chimney up?
What is harder to catch the faster you run?
I am bought by the yard but worn by the foot. What am I?
I am owned by every man though my length differs. Their wives uses me after getting married.
It has no top or bottom, but it can hold flesh, bones, and blood all at the same time.