Answer:
What is seen in the water and in the sky? It is part of the rainbow and can be in your eye
What ship has no captain but two mates?
It is something you make after you've weighed your options.
What is often returned, but never borrowed?
It weighs next to nothing but no one can hold it for long. What is it?
What is big and yellow and comes in the morning, to brighten mom's day?