The most common and most likely answer to this crossword clue is the 8 letter word HANGINGS
I've seen this crossword clue in Financial Times
H
A
N
G
I
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S
Buddy explains!
The straight part
We know that "decorations" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case decorations = hangings.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 HANGINGS mean?
HANGINGS noun- The act of hanging a person (or oneself) by the neck in order to kill that person (or to commit suicide).
- A sometimes public event at which a person is hanged.
- Anything that is hung as a decorative element (such as curtains, gobelins or posters).
- The way in which hangings (decorations) are arranged.