1) GO FOR IT. If you really hate it then it'll grow back, but there's many ways to wear a hawk. Sort, long, spiked, fanned. It's really awesome having one. I felt amazing after I shaved my sides.
2) I just flip it to one side. But I'm growing mine out really long because I cant get hairspray from the corner store and I don't have a car, So, I'd be wearing it down pretty much all the time. It looks really good both up and down.
3) They look AWESOME
when i dont have mine up i do all sorts of shit to it, crimp it, french braid it, pigtails, ponytail, curl it, pin it back, straighten it, you have tons of options.