Cryptic crossword clue
Lasso-like? Yes, cowboy-style with gold backing 5

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

I've seen this crossword clue in The Guardian
R
O
P
E
Y

Buddy explains!

The straight part
We know that "Lasso-like" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case lasso-like = ropey.
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 ROPEY mean?

ROPEY adjective
  1. Resembling rope in appearance or texture, used especially of muscles that are thick or hard to the touch.
  2. Capable of forming rope-like or thread-like structures.
  3. Of poor quality; in poor health.
  4. (of milk or another liquid) Slimy, as after the action of Enterobacter aerogenes in syrup.

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