The most common and most likely answer to this crossword clue is the 3 plus 4 letter word ALI BABA
I've seen this crossword clue in The Daily Telegraph
A
L
I
B
A
B
A
More clues leading to the result ALI BABA
- Briefly, excuse a bachelor who discovers great riches?
- Fighter plane operator repeatedly an associate of thieves
- A fabulous figure – a centrist politician and a graduate …
- Jumping bail, seaman joins a fabled woodcutter
- Briefly excuse sailor with a show person
- Liberal seaman in group tackling addiction showing character of Arabs?
- Valid core degrees for woodcutter
- Woodcutter in tale died leaving store with cake
- Fabled woodcutter joins a party with a scholar
- Pantomime character rewarded by Rolling Stone?
Buddy explains!

The straight part
We know that "Pantomime character rewarded by Rolling Stone" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case pantomime character rewarded by rolling stone = ali baba.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.