Cryptic crossword clue
Large waves swamping tips of pontoon anchor 7

The most common and most likely answer to this crossword clue is the 7 letter word GRAPNEL

I've seen this crossword clue in The Guardian
G
R
A
P
N
E
L

Buddy explains!

The straight part
We know that "anchor" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case anchor = grapnel.
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 GRAPNEL mean?

GRAPNEL noun
  1. A small anchor, having more than two flukes, used for anchoring a small vessel.
  2. A device with a multiple hook at one end and attached to a rope, which is thrown or hooked over a firm mooring to secure an object attached to the other end of the rope.
  3. A grappling iron.
GRAPNEL verb
  1. To connect (ships) with a grapnel.

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