Life by the tail

I did it! I got it! I finally caught it!
I caught my tail at last!
Though truth be told
this tail I hold
Tastes a bit like hair and grass.

Some said I couldn't; some said I shouldn't
But now I’ve got life by the tail!
There's a bit of a smell
but you hardly can tell
So long as you don't inhale!

After running in circles (and foregone squirrels)
It's clear I did prevail!
Just one more glitch —
I now have an itch
But my lips have a grip on my tail!

And you? Which tails do you pursue?
As you circle again and again?
And should you prevail
and catch your tail
Ask yourself - what did you win?