Cryptic crossword clue
Favourite comes round and takes part in the event 8

The most common and most likely answer to this crossword clue is the 8 letter word COMPETES

I've seen this crossword clue in The Guardian
C
O
M
P
E
T
E
S

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 COMPETES mean?

COMPETES verb
  1. To be in battle or in a rivalry with another for the same thing, position, or reward; to contend
  2. To be in a position in which it is possible to win or triumph.
  3. To take part in a contest, game or similar event

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