Cryptic crossword clue
Very fancy, Lumley — no end of fancy paper 6

The most common and most likely answer to this crossword clue is the 6 letter word VELLUM

I've seen this crossword clue in The Guardian
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Buddy explains!

The straight part
We know that "paper" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case paper = vellum.
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 VELLUM mean?

VELLUM noun
  1. A type of parchment paper made from the skin of a lamb, baby goat, or calf.
  2. A writing paper of very high quality.

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