The most common and most likely answer to this crossword clue is the 4 letter word PERM
I've seen this crossword clue in The Guardian
P
E
R
M
More clues leading to the result PERM
- Hairdo the Queen gets in May, say
- Spy chief and agent turning up in Russian city
- Sailors on exercises in waves
- Wave combination in pools
- Hairstyle of supermodel
- Change the order in a McDonald’s
- Particular hairstyle wanted each month
- Combination locks, late ’70s style?
- A male hairdo
- Money supporting a hair treatment
Buddy explains!

The straight part
We know that "hairdo" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case hairdo = perm.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does PERM mean?
PERM noun- A permanent.
- A permanent wave.
- To give hair a perm, using heat, chemicals etc.
- A permutation.
- A combination of outcomes (not a permutation) that a gambler bets on in the football pools.