Cryptic crossword clue
Toss a lifeline frantically to rescue last character — it’s suitable for every purpose 3-4-4-3

The most common and most likely answer to this crossword clue is the 17 letter word ONE-SIZE-FITS-ALL

O
N
E
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S
I
Z
E
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F
I
T
S
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A
L
L

Buddy explains!

The straight part
We know that "it’s suitable for every purpose" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case it’s suitable for every purpose = one-size-fits-all.
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 ONE-SIZE-FITS-ALL mean?

ONE-SIZE-FITS-ALL adjective
  1. (of a garment) Designed to be worn with comfort by people with a wide range of sizes.
  2. Suitable for a wide range of tastes, opinions, situations, etc.

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