Answer:
What is bought by the yard by is worn by the foot?
I am nothing but holes tied to holes, yet am strong as iron.
I look at you, you look at me, I raise my right, you raise your left.
It can pierce the best armor and make swords crumble with a rub, yet for all its power It can't harm a wooden club.
What can be forever wound up but never annoyed?
People take me on walks and I run and have fun. What am I?