Answer:
A mile from end to end, yet as close to as a friend. A precious commodity, freely given. Seen on the dead and on the living. Found on the rich, poor, short and tall, but shared among children most of all.
It doesn't live within a house, nor does it live without. Most will use it when they come in, and again when they go out.
When the son of the water returns to the parent, it dies. What is it?
Sometimes I am loud. And viewed with distaste. Poke out my 'eye', then I'm on the front of your face.
Different lights do make me strange, thus into different sizes I will change.
People take me on walks and I run and have fun. What am I?