The most common and most likely answer to this crossword clue is the 7 letter word ROSETTE
R
O
S
E
T
T
E
More clues leading to the result ROSETTE
- Originally, over in New Street finds badge
- What we learn by accepting standard award
- Prize dog not right after run out
- What one may learn by accepting established award
- Award with ribbons accepted by zero setters
- What we learn by accepting established award
- Prize flower over centre of pattern
- Run out to catch a glimpse of incoming Times competition winner's prize?
- Prize wine dry and earthy at first
- Very much in character, shedding pounds, picking up award
Buddy explains!

The straight part
We know that "Prize" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case prize = rosette.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 ROSETTE mean?
ROSETTE noun- An imitation of a rose by means of ribbon or other material, used especially as an ornament or a badge.
- An ornament in the form of a rose or roundel, much used in decoration.
- A red color.
- A rose burner.
- One or more whorls of leaves, clustered tightly at the base of a plant.
- A plant growth form in which the plant grows outward in all directions for a short distance, producing a small round shape.
- Any structure having a flowerlike form; especially, the group of five broad ambulacra on the upper side of the spatangoid and clypeastroid sea urchins.
- A flowerlike color marking, as on the leopard.
- A floral pattern in latte art.
- A clustered formation of tumor cells.
- A thin, cookie-like, deep-fried Scandinavian pastry, made using an iron, which resembles a rose blossom.
- A rose shape piped using frosting, most commonly buttercream.
- A form of knot.
- A disc formed by throwing water on molten metal.
- A rosette sampler.