Cryptic crossword clue
Hot look wounded Bob perhaps 7

The most common and most likely answer to this crossword clue is the 7 letter word HAIRCUT

I've seen this crossword clue in Independent
H
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Buddy explains!

The straight part
We know that "Bob perhaps" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case bob perhaps = haircut.
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 HAIRCUT mean?

HAIRCUT noun
  1. The act of cutting of the hair, often done professionally by a barber, hair stylist, or beautician.
  2. The style into which the hair is cut.
  3. In a bankruptcy proceeding, the proportional reduction in the debt that will be paid to each creditor, based on an evaluation of the total debt owed and the total assets of the debtor.
  4. The difference between the value of a loan and the value of its collateral.

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