Well, first off, it will take MAYBE 10 minutes to make one, but most of that time is just waiting.
Absolutly, you can hand it out for examination after you are done with making it, or performing it.
If the spectator crumples it, it shouldn't affect it other than asthetically. It MIGHT have a small effect if it is SUPER wet, but other than that, nope. Plus, you can give it to them as a suiveneer.
When you buy the 1on1, there is only one object you need to buy. Now, personally, I didn't know this object existed before I bought this 1on1, but it is useful for SO many things that I didn't know about. Plus, it is cheap.
As for how long it will last, if you mean performance wise, if you don't give it away afterwards, then probably... 10 or so. Maybe more performances. Probably more. But I tend to give it away when I am done with it.
Hope that helps! Any other questions feel free to PM me!