The most common and most likely answer to this crossword clue is the 6 letter word MAKEUP
I've seen this crossword clue in Financial Times
M
A
K
E
U
P
Buddy explains!
The straight part
We know that "Compensate for/war paint" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case compensate for/war paint = makeup.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 MAKEUP mean?
MAKEUP noun- An item's composition.
- Cosmetics; colorants and other substances applied to the skin to alter its appearance.
- Replacement; material used to make up for the amount that has been used up.
- A test given to students allowing them to repeat failed material.