Is it pronounced leed or led.
Both, depending on usage. Led = lead pencil. Lead = playing a lead in a play.
The "riddle" part of the question is that you can't tell WHICH way to pronounce certain words without "context" - whether it is the rest of a sentence, whether or not the first letter is capitalized, or even what the one word sign is posted on.
There have been several previous examples in this thread - this is just one more.
Did I read the joke below HERE or elsewhere?
How do you tell the difference between a PLUMBER and a chemist?
Ask them to pronounce "unionized".
Plumber will probably see it as related to union, so union-ized, while a chemist will most likely see it as un-ionized.
Mom was a science teacher....I need to send that one to her...