Cryptic crossword clue
Party’s full of students — they have very small houses 5

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

I've seen this crossword clue in The Daily Telegraph
D
O
L
L
S

Buddy explains!

The straight part
We know that "they have very small houses" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case they have very small houses = dolls.
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 DOLLS mean?

DOLLS noun
  1. A toy in the form of a human.
  2. (sometimes offensive) An attractive young woman
  3. A term of endearment: darling, sweetheart.
  4. A dollar.
  5. (now possibly offensive) A good-natured, cooperative or helpful girl.
  6. The smallest or pet pig in a litter.

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