Cryptic crossword clue
Lake surrounded by cunning ornamental borders 9

The most common and most likely answer to this crossword clue is the 9 letter word GUILLOCHE

I've seen this crossword clue in Financial Times
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Buddy explains!

The straight part
We know that "ornamental borders" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case ornamental borders = guilloche.
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.

Crossword Answer definitions

GUILLOCHE noun
  1. A fine engraved pattern of spirals, intertwining bands, etc.
  2. The tool used to create such work.
GUILLOCHE verb
  1. To decorate with intersecting curved lines.

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