Answer:
I walked and walked and at last I got it. I didn't want it. So I stopped and looked for it. When I found it, I threw it away.
Once they sailed the sea, now they surf the web
It is an arctic double breasted formal wear.
It's got twists and turns, but has no curves. Twist it to fix it, turn it to ruin it. What is it?
I'm full of holes, yet I'm full of water.
I am owned by Old McDonald.