The most common and most likely answer to this crossword clue is the 6 letter word PETARD
I've seen this crossword clue in The Guardian
P
E
T
A
R
D
More clues leading to the result PETARD
- Taper lit up, designed primarily for small explosive
- Suspect parted with explosive device
- Old gate-crasher died after exercise with sailor
- Firework‘s somehow taped around tiger’s tail
- Depart agitatedly; it may explode!
- Firecracker’s quiet and slow when cap’s taken off
- . Explosive charge turns up in police department
- Sport doctor’s box is missing old powder case
Buddy explains!

The straight part
We know that "it may explode" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case it may explode = petard.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 PETARD mean?
PETARD noun- A small, hat-shaped explosive device, used to breach a door or wall.
- Anything potentially explosive, in a non-literal sense.
- A loud firecracker.
- To attack or blow a hole in (something) with a petard.