The most common and most likely answer to this crossword clue is the 7 letter word HUNKERS
I've seen this crossword clue in The Times
H
U
N
K
E
R
S
More clues leading to the result HUNKERS
Buddy explains!
The straight part
We know that "Hams/squatters live on" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case hams/squatters live on = hunkers.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 HUNKERS mean?
HUNKERS verb- To crouch or squat close to the ground or lie down
- To apply oneself to a task
- A political conservative.