The most common and most likely answer to this crossword clue is the 6 letter word FRILLY
I've seen this crossword clue in The Times
F
R
I
L
L
Y
More clues leading to the result FRILLY
- Fancy horse to steal race after one’s been dropped
- Ruffled father gets mad on losing lead
- Ruffled horse takes race after one disqualified
- Admitting suffering, cook ruffled
- Horse crossing over finally gets ruffled
- Horse crossing river gets ruffled
- Stephen, unwell inside, is ruffled
- Unwell within, cook is ruffled
- Fancy horse that’s catching leader in race
Buddy explains!

The straight part
We know that "Fancy" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case fancy = frilly.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 FRILLY mean?
FRILLY adjective- Having frills; frilled.
- Over-elaborate or showy in character or appearance.