The most common and most likely answer to this crossword clue is the 4 letter word TEGU
T
E
G
U
Buddy explains!
The straight part
We know that "Lizard" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case lizard = tegu.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 TEGU mean?
TEGU noun- A South American lizard of the genus Tupinambis, which is sometimes kept as a pet.