The most common and most likely answer to this crossword clue is the 8 letter word SNAFFLES
I've seen this crossword clue in Financial Times
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More clues leading to the result SNAFFLES
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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 SNAFFLES mean?
SNAFFLES noun- A broad-mouthed, loose-ringed bit (metal in a horse's mouth). It brings pressure to bear on the tongue and bars and corners of the mouth. Often used as a training bit.
- Decorative wear that looks like a snaffle.