The most common and most likely answer to this crossword clue is the 7 plus 4 letter word MASKING TAPE
I've seen this crossword clue in The Daily Telegraph
M
A
S
K
I
N
G
T
A
P
E
More clues leading to the result MASKING TAPE
Buddy explains!
The straight part
We know that "that’s put up for decoration" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case that’s put up for decoration = masking tape.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.