The most common and most likely answer to this crossword clue is the 3 letter word TOY
I've seen this crossword clue in Independent
T
O
Y
Buddy explains!

The straight part
We know that "Lad loses head after the opening of this!" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case lad loses head after the opening of this! = toy.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 TOY mean?
TOY noun- Something to play with, especially as intended for use by a child.
- A thing of little importance or value; a trifle.
- A simple, light piece of music, written especially for the virginal.
- Love play, amorous dalliance; fondling.
- A vague fancy, a ridiculous idea or notion; a whim.
- An inferior graffiti artist.
- An old story; a silly tale.
- A headdress of linen or wool that hangs down over the shoulders, worn by old women of the lower classes; called also toy mutch.
- A sex toy (object or device to give sexual pleasure).
- To play (with) in an idle or desultory way.
- To ponder or consider.
- To stimulate with a sex toy.