Answer:
I am owned by Old McDonald.
Of the king I am blue and of the peasant I am red. Of the frog I am cold and of the dog I am hot instead.
I am asleep when you are awake I am awake when you fall asleep. I can fly but no feathers to aid my flight.
I am a house with two occupants sometimes one rarely three. Break the walls eat the boarders then throw away me.
I have a few points but we're not competing. I'll help you win when you're eating.
What do people want the least on their hands?