The most common and most likely answer to this crossword clue is the 7 letter word GAUDIES
I've seen this crossword clue in Financial Times
G
A
U
D
I
E
S
Buddy explains!
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 GAUDIES mean?
GAUDIES noun- One of the large beads in the rosary at which the paternoster is recited.
- A reunion held by one of the colleges of the University of Oxford for alumni, normally held during the summer vacations.