The most common and most likely answer to this crossword clue is the 4 letter word WOOL
I've seen this crossword clue in Financial Times
W
O
O
L
More clues leading to the result WOOL
- Material helping make igloo warm up
- Court line in clothing material
- After whiskey, John spins yarn
- Coat left next to court
- Material left at back of court
- Women’s circle sew no end of beautiful fabric
- Material John Wayne originally rejected
- Court martial’s latest character that produces a yarn?
- Daydreaming associated with sheep-shearers?
- Wagner’s beginning with his masterpiece about old Russian woman dreaming
Buddy explains!

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 WOOL mean?
WOOL noun- The hair of the sheep, llama and some other ruminants.
- A cloth or yarn made from the wool of sheep.
- Anything with a texture like that of wool.
- A fine fiber obtained from the leaves of certain trees, such as firs and pines.
- Short, thick hair, especially when crisped or curled.
- Yarn (including that which is made from synthetic fibers.)
- Derogatory term for residents of the satellite towns outside Liverpool, such as St Helens or Warrington. See also Yonner.