We model the nonlinear saturation of the r-mode instability via three-mode couplings and the effects of the instability on the spin evolution of young neutron stars. We include one mode triplet consisting of the r-mode and two near resonant inertial modes that couple to it. We find that the spectrum of evolutions is more diverse than previously thought. We start our evolutions with a star of temperature ∼ 10 10 K and a spin frequency close to the Kepler break-up frequency. We assume that hyperon bulk viscosity dominates at high temperatures (T ∼ 10 9 − 10 10 K) and boundary layer viscosity dominates at lower temperatures (∼ a few × 10 8 K). To explore possible nonlinear behavior, we vary properties of the star such as the hyperon superfluid transition temperature, the strength of the boundary layer viscosity, and the fraction of the star that cools via direct URCA reactions. The evolution of the star is dynamic and initially dominated by fast neutrino cooling. Nonlinear effects become important when the r-mode amplitude grows above its first parametric instability threshold. The balance between neutrino cooling and viscous heating plays an important role in the evolution. Depending on the initial r-mode amplitude, and on the strength of the viscosity and of the cooling this balance can occur at different temperatures. If thermal equilibrium occurs on the r-mode stability curve, where gravitational driving equals viscous damping, the evolution may be adequately described by a one-mode model. Otherwise, nonlinear effects are important and lead to various more complicated scenarios. Once thermal balance occurs, the star spinsdown oscillating between thermal equilibrium states until the instability is no longer active. The average evolution of the mode amplitudes can be approximated by quasi-stationary states that are determined algebraically. For lower viscosity we observe runaway behavior in which the r-mode amplitude passes several parametric instability thresholds. In this case more modes need to be included to model the evolution accurately. In the most optimistic case, we find that gravitational radiation from the r-mode instability in a very young, fast spinning neutron star within about 1 Mpc of Earth may be detectable by advanced LIGO for years, and perhaps decades, after formation. Details regarding the amplitude and duration of the emission depend on the internal dissipation of the modes of the star, which would be probed by such detections.