The most common and most likely answer to this crossword clue is the 7 letter word ALBINOS
A
L
B
I
N
O
S
Buddy explains!
The straight part
We know that "pink-eyed rabbits" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case pink-eyed rabbits = albinos.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 ALBINOS mean?
ALBINOS noun- A person or animal congenitally lacking melanin pigmentation in the skin, eyes, and hair or feathers (or more rarely only in the eyes); one born with albinism.