Answer:
I open wide and tight I shut, Sharp am I and paper-cut fingers too, so do take care, I'm good and bad, so best beware.
Sleeping during the day, I hide away. Watchful through the night, I open at dawn's light. But only for the briefest time, do I shine. And then I hide away. And sleep through the day.
It is a part of us, and then replaced. It escapes out bodies, to a better place. The world becomes its sizeable home. Its passions unrestraint, the planet it roams.
Take one out and scratch my head I am now black but once was red.
I'm white, I'm round, but not always around. Sometimes you see me, sometimes you don't.
Describes a mysterious region and a stylish pair of shorts.