Cryptic crossword clue
Pound backs dollar 5

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

I've seen this crossword clue in The Guardian
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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.
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What does SQUID mean?

SQUID noun
  1. Any of several carnivorous marine cephalopod mollusks, of the order Teuthida, having a mantle, eight arms, and a pair of tentacles
  2. A fishhook with a piece of bright lead, bone, or other substance fastened on its shank to imitate a squid.
  3. (mildly) A sailor in the Navy.
  4. A quid; one pound sterling.
SQUID verb
  1. To fish with the kind of hook called a squid.
  2. (parachuting) To cause squidding (an improper, partial, parachute inflation, that results in the sides of the parachute folding in on the center, and pulsating back and forth).
SQUID noun
  1. A motorcyclist, especially a sport biker, characterized by reckless riding and lack of protective gear.

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