Answer:
I bind it and it walks. I loose it and it stops.
I scribble forms of the finest letter, And repel elements of the harshest weather. I am an arrow-aimer and a dust-breaker.
What surrounds the world, yet dwells within a thimble?
Some try to hide, some try to cheat. But time will show, we always will meet. Try as you might, to guess my name. I promise you'll know, when you I do claim.
My first is in fish but no in snail. My second is in rabbit but no in tail. My third is in up but not in down. My fourth is in tiara but not in crown. My fifth is in tree you plainly see. My whole a food for you and me.
What sphinxes employ and players enjoy.