Cryptic crossword clue
Flag raised, a beauty? 5

The most common and most likely answer to this crossword clue is the 5 letter word PINUP

I've seen this crossword clue in Financial Times
P
I
N
U
P

More clues leading to the result PINUP

Buddy explains!

The straight part
We know that "a beauty?" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case a beauty? = pinup.
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 PINUP mean?

PINUP noun
  1. A photograph, printed in a magazine or other publication, of a sexually attractive person (often nude or provocatively dressed), and intended to be removed and pinned up on a wall.
  2. The person so depicted.
  3. Figurehead, person who represents an idea, cause etc.

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