Cryptic crossword clue
Lassie named in second paper or in short periodical 5

The most common and most likely answer to this crossword clue is the 5 letter word MORAG

I've seen this crossword clue in The Guardian
M
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A
G

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The straight part
We know that "Lassie" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case lassie = morag.
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.

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