Answer:
Many people own a copy of me. Without me the world would fall.
I can only be played on a windy day
I can be long or short. I can be grown or bought. I can be painted or left bare. My tip can be round or square. (one word)
Things here are usually tagged with red stickers.
I am pronounced as one letter written with three. I come in blue black brown or grey. Reverse me and I read the same either way.
Give it food and it will live, give it water and it will die.