Answer:
Pencil
Explanation:
1. Pencil is actually made or covered with wood.
2. Even it is filled with graphite, many people termed it as lead
3. Oftentimes it is painted in yellow color.
4. Children or young kids often use it at basic level in school
5. George Washington initiated the construction of Obelisk often called Washington Monument and sometimes referred to as pencil
6. A user can use eraser to erase or clean pencil when mistake is made unlike pen.
7. An English man nearly died when he fell on a pencil passing through his lung.
Hence, the correct answer to the riddle is PENCIL