The most common and most likely answer to this crossword clue is the 3 plus 5 letter word NED KELLY
N
E
D
K
E
L
L
Y
More clues leading to the result NED KELLY
- King missing Australia leadenly condemned outlaw
- Fool clenches fist, knocking out posh Aussie
- Hanged man whose eye is number one
- Bushranger reporting rogue elephant running round Eastern Denmark
- Likely end? Criminal one to be suspended
- Outlaw killed European indiscriminately dispatching one in New York
- Eleanor clenches fist having knocked out posh outlaw
Buddy explains!

The straight part
We know that "outlaw" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case outlaw = ned kelly.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.