The most common and most likely answer to this crossword clue is the 5 letter word GENTS
G
E
N
T
S
Buddy explains!

The straight part
We know that "chaps" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case chaps = gents.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 GENTS mean?
GENTS noun- A gentleman.
- A men's room: a lavatory intended for use by men.
- Men's: intended for use by men.