Cryptic crossword clue
Panic! Strap failing in trousers 5,5

The most common and most likely answer to this crossword clue is the 5 plus 5 letter word CAPRI PANTS

I've seen this crossword clue in The Sunday Telegraph
C
A
P
R
I
P
A
N
T
S

Buddy explains!

The straight part
We know that "trousers" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case trousers = capri pants.
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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