The most common and most likely answer to this crossword clue is the 4 letter word ICED
I've seen this crossword clue in The Times
I
C
E
D
More clues leading to the result ICED
- Dispatched two varieties of diamonds
- Chilled and laid-back start of month?
- Chilled and cut up, with head removed
- Start of last month turning very chilly
- Decorated more than three weeks before Christmas, looking back
- How month starts to turn cold
- Some mice dearly like some cakes
- What cake might be made cold?
- Like some cakes rising at the start of a month
- Two kinds of diamonds? Cool!
Buddy explains!

The straight part
We know that "Chilled" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case chilled = iced.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 ICED mean?
ICED adjective- With ice added.
- Very cold, but not necessarily containing ice.
- Covered with icing.
- To cool with ice, as a beverage.
- To become ice; to freeze.
- To make icy; to freeze.
- To murder.
- To cover with icing (frosting made of sugar and milk or white of egg); to frost; as cakes, tarts, etc.
- To put out a team for a match.
- To shoot the puck the length of the playing surface, causing a stoppage in play called icing.