Analysis of On a pencil eraser

I hold this eraser in my hand
with a whale on it
smiling above the two lines that mark the waves
and the name of the brand
to erase and be erased
is written beneath the beady eyed whale.
A line to make it smile
two to make its universe
no colours have these waves
and the whale smiles for not being blue.
Its tail has already dissolved
along with the last letter of the brand name
in the words of lead
written in thuoghtlessness
by 'wanton children'.
To undo a child's folly
must this smile be gone?
These waves and a big name all?
For Man who erred in words
and dissolved my whale's innocent little world
in words?