Answer:
As soft as silk, as white as milk, as bitter as gall, a thick green wall, and a green coat covers me all.
A muttered rumble was heard from the pen, and I, in my walking stopped to look in. What was this I saw? A massive beast, hoofed, and jawed. With spikes upon its mighty brow, I watched as he struck the turf and prowled. And yet for all of his magnificence, he couldn't get out of that wooden fence.
My teeth are sharp, my back is straight, to cut things up it is my fate.
Only one color, but not one size. Stuck at the bottom, yet easily flies. Present in sun, but not in rain. Doing no harm, and feeling no pain.
It stands upright and can be quite grand. Its secret is not hidden but right at hand. What is it?
I am free the first time and second time but the third time is going to cost you money.