The most common and most likely answer to this crossword clue is the 4 letter word GRAY
I've seen this crossword clue in The Daily Telegraph
G
R
A
Y
More clues leading to the result GRAY
- Dull-sounding poet
- English poet Thomas seen in good light?
- King George alas is dull in America
- Regular letters from Germany for English poet
- King entertained by poet and elegist
- Audibly channel-hop in section of bar
- Man perhaps mostly set on interrupting extremely ghastly old poem
- English poet appearing intermittently in Germany
- Ashen coloured American cheese, round
- Dismal SI unit
Buddy explains!

The straight part
We know that "elegist" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case elegist = gray.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 GRAY mean?
GRAY noun- An achromatic colour intermediate between black and white.
- An animal or thing of grey colour, such as a horse, badger, or salmon.
- An extraterrestrial humanoid with grayish skin, bulbous black eyes, and an enlarged head.
- A penny with a tail on both sides, used for cheating.
- To become gray.
- To cause to become gray.
- To turn progressively older, alluding to graying of hair through aging (used in context of the population of a geographic region)
- To give a soft effect to (a photograph) by covering the negative while printing with a ground-glass plate.
- Having a color somewhere between white and black, as the ash of an ember.
- Dreary, gloomy.
- Having an indistinct, disputed or uncertain quality.
- Relating to older people.
- In the International System of Units, the derived unit of absorbed dose of radiation (radiation absorbed by a patient); one joule of energy absorbed per kilogram of the patient's mass. Symbol: Gy