The most common and most likely answer to this crossword clue is the 3 plus 4 letter word ICE SHOW
I've seen this crossword clue in The Times
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More clues leading to the result ICE SHOW
- Who's going to support reserve performance?
- Skating event is entertaining church, and how!
- How the Church is involved in popular entertainment
- Hail Queen leaving Frozen performance?
- I chose to adapt with performance on the slide
- Winter spectacular — costs twice reduced at the beginning
- Entertainment kills and how!
- Reportedly looks at who's disturbing rink event
- ac. I chose to dance with cool theatrics (3,4
Buddy explains!

The straight part
We know that "performance" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case performance = ice show.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.