Cryptic crossword clue
Caligula, say, madman initially taken by horse 5

The most common and most likely answer to this crossword clue is the 5 letter word ROMAN

I've seen this crossword clue in The Daily Telegraph
R
O
M
A
N

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The straight part
We know that "Caligula, say" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case caligula, say = roman.
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 ROMAN mean?

ROMAN noun
  1. One of the main three types used for the Latin alphabet (the others being italics and blackletter), in which the ascenders are mostly straight.
  2. A novel.
ROMAN adjective
  1. (of type) upright, as opposed to italic
  2. (of text) of or related to the Latin alphabet

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