Cryptic crossword clue
Australian drunk partying wildly 10

The most common and most likely answer to this crossword clue is the 10 letter word SATURNALIA

I've seen this crossword clue in Financial Times
S
A
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A

Buddy explains!

The straight part
We know that "partying wildly" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case partying wildly = saturnalia.
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 SATURNALIA mean?

SATURNALIA noun
  1. A period or occasion of general license, in which the passions or vices have riotous indulgence; a period of unrestrained revelry.

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