The most common and most likely answer to this crossword clue is the 4 letter word PICT
I've seen this crossword clue in Financial Times
P
I
C
T
More clues leading to the result PICT
- Film ultimately about ancient person in northern Britain
- In speech, went for ancient Briton
- Sound made by chosen Caledonian tribesman
- Reportedly chose chap from Scotland
- A little unpicturesque person of old
- Writer’s trollop caught in foul den
- Old Scotsman chose to speak
- Caledonian featured in epic tale
- Old northerner caught in a trap
- Old northerner caught in trap
Buddy explains!

The straight part
We know that "Old Scotsman" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case old scotsman = pict.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.