Answer:
I'm white, I'm round, but not always around. Sometimes you see me, sometimes you don't.
An iron horse with a flaxen tail. The faster the horse runs, the shorter his tail becomes.
I turn around once. What is out will not get in. I turn around again. What is in will not get out.
I am always in front of you, but you will never see me. What am I?
Something wholly unreal, yet seems real to I. Think my friend, tell me where does it lie?
I am black within and red without; with four corners round about. What am I?