The most common and most likely answer to this crossword clue is the 7 letter word SERRATE
I've seen this crossword clue in Financial Times
S
E
R
R
A
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More clues leading to the result SERRATE
Buddy explains!

The straight part
We know that "Pink" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case pink = serrate.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 SERRATE mean?
SERRATE verb- To make serrate.
- To cut or divide in a jagged way.
- Having tooth-like projections on one side, as in a saw.
- (leaves) Having tooth-like projections pointed away from the petiole.