T3B25

Apparently 97% of Harvard grads can't solve this riddle, but 87% of kindergarteners can. :S 

I turn polar bears white

And I will make you cry

I make guys have to pee

I make girls comb their hair

I make celebrities look stupid

I make normal people look like celebrities

I turn pancakes brown

And make your chapagne bubble

If you squeeze me I'll pop

If you look at me you'll pop

What am I?