The most common and most likely answer to this crossword clue is the 2 plus 2 letter word SA SA
S
A
S
A
More clues leading to the result SA SA
Buddy explains!
The straight part
We know that "What one comes out with when fencing" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case what one comes out with when fencing = sa sa.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.