Vendappol Vattathil Vendathappol Neelathil - with Answer

 Kusruthi Chothyam

"Vendappol vattathil, vendathappol neelathil...

Utharam parayamo???"

ANSWER

"Kuda" (Umbrella)

Explanation
When we use an umbrella, we open it and hold it in round. But when we are not using an umbrella, we fold it and hold it straight.