It goes round and round and up and down (5)
I believe the answer is:
rotor
I believe this is a double definition.
'it goes round and round' is the first definition.
'up and down' is the second definition.
'and' is the link.
(Other definitions for rotor that I've seen before include "Turner" , "... and another" , "It goes around" , "Bit of chopper" , "Arm moving" .)