Cryptic crossword clue
Series of thank-you letters in small rag 5

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

I've seen this crossword clue in The Times
H
A
N
K
Y

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The straight part
We know that "small rag" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case small rag = hanky.
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 HANKY mean?

HANKY noun
  1. A piece of cloth, usually square and often fine and elegant, carried for wiping the face, eyes, nose or hands.
  2. A piece of cloth shaped like a handkerchief to be worn about the neck; a neckerchief or neckcloth.

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