The most common and most likely answer to this crossword clue is the 7 letter word TALLYHO
I've seen this crossword clue in The Daily Telegraph
T
A
L
L
Y
H
O
More clues leading to the result TALLYHO
Buddy explains!

The straight part
We know that "What John Peel might have called" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case what john peel might have called = tallyho.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 TALLYHO mean?
TALLYHO noun- An instance of the interjection.
- A pleasure coach.
- To articulate the interjection.
- Used to urge on a fox hunt, especially when the fox is sighted.
- A simple greeting, exclusively used by the upper classes.
- Target sighted.