Answer:
When set loose I fly away. Never so cursed as when I go astray
Did you hear about the Giant that threw up?
In buckles or lace, they help set the pace. The farther you go, the thinner they grow.
What's red and white and goes up and down and up and down?
Special abilities and brightly colored underwear are all you need to be one of these.
Iβm hard as a rock and as light as a feather. Iβm passed on to one another. Poor people need me and rich people have me.