The most common and most likely answer to this crossword clue is the 8 plus 5 letter word LAUGHING STOCK
I've seen this crossword clue in Financial Times
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More clues leading to the result LAUGHING STOCK
- Fantastic luck: ‘Not haggis, Aunt Sally‘
- Patsy’s cattle with a sense of humour?
- Clearly amused, handle butt
- Object to joke about inhabitants of funny farm?
- Comedian’s repertoire is one that’s ridiculous
- Howling animals, target of derision
- Victim as result of ‘Comedy Store’?
- Ragged chap who might be found in funny farm?
- Aunt Sally‘s cattle with a sense of humour
- Butt for the flower under the ha-ha
Buddy explains!

The straight part
We know that "Patsy/cattle with a sense of humour" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case patsy/cattle with a sense of humour = laughing stock.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 LAUGHING STOCK mean?
LAUGHING STOCK noun- An object of ridicule, someone who is publicly ridiculed; a butt of sport.