The most common and most likely answer to this crossword clue is the 8 letter word CHEERIOS
C
H
E
E
R
I
O
S
More clues leading to the result CHEERIOS
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.