Object changes shape randomly.

When I pick up an object it slightly changes size, and when I drop it, it greatly changes size. It's directional. It will expand about 1 unit away from the player and it will be slightly thinner. I have no clue whats happening.

 #pragma strict
 
 var Distance : float;
 var MaxDistance : float = 4.0;
 var Hand : GameObject;
 var Item : GameObject;
 var TheSystem : Transform;
 var Weapon01 : GameObject;
 var HoldingItem = false;
 
 function Start () {
     Hand = GameObject.Find("Hand");
     Item = GameObject.Find("Cube");
     Weapon01 = GameObject.Find("Weapon01");
 }
 
 function Update () {
     var hit : RaycastHit;  
      if (Physics.Raycast (TheSystem.transform.position, TheSystem.transform.TransformDirection(Vector3.forward), hit))  
      {  
          Distance = hit.distance;  
            if (HoldingItem == false)
            {
                var ItemScale = Item.renderer.bounds.size;
            }    
            if (Distance < MaxDistance && Input.GetMouseButtonDown(0) && HoldingItem == false && hit.collider.gameObject.tag == "PickUpable")  
            {  
                Destroy(Weapon01);
                Item.rigidbody.useGravity = false;
                Item.rigidbody.isKinematic = true;
              Item = hit.collider.gameObject;
              Item.transform.parent = Hand.transform;
              Item.transform.position = Hand.transform.position;
              HoldingItem = true;    
              var Wait = Time.time + 10;
          }
          
      }
      if (HoldingItem && Input.GetMouseButtonDown(0) && Wait <= Time.time)
      {
          Item.transform.parent = null;
          Item.rigidbody.useGravity = true;
          Item.rigidbody.isKinematic = false;
          HoldingItem = false;
      }
      if (HoldingItem)
      {
          Item.renderer.bounds.size = ItemScale;
          print(ItemScale);
      }             
 }