The most common and most likely answer to this crossword clue is the 9 plus 5 letter word CATHERINE WHEEL
I've seen this crossword clue in Independent
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More clues leading to the result CATHERINE WHEEL
- Spinner producing spectacular display here, whence tail collapses
- Harassed teachers lie when confiscating small firework
- Lie when teacher unexpectedly discovers firework
- Container of explosive ignited for spectacular revolution
- Blazing revolver?
- Fireworks as Tom's girl pours wine over the rascal
- Girl’s turn at the window
- Somehow wealthier, hence can afford firework
Buddy explains!

The straight part
We know that "firework" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case firework = catherine wheel.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.