Answer:
What is full of holes but still holds water?
A young man wants to have it, but when he has it he no longer wants it. Blade in hand he attacks it And does his best to remove it. Yet he knows that it is all in vain.
I have joy in bringing two together, but darning my existence! My life hangs by a thread, filled with ups, downs and resistance!
Can describe a distress signal or flashy accessories.
You could do this to a motion, see it on a watch, or place this in a race.
People take me on walks and I run and have fun. What am I?