Chip on exquisite dish (7)
I believe the answer is:
rarebit
'dish' is the definition.
(rarebit is a kind of dish)
'chip on exquisite' is the wordplay.
'chip' becomes 'bit' (synonyms).
'on' is a charade indicator (letters next to each other).
'exquisite' becomes 'rare'.
'bit' put after 'rare' is 'RAREBIT'.
(Other definitions for rarebit that I've seen before include "Cheese on toast - arbiter (anag)" , "Savoury dish of cheese on toast" , "Welsh food?" , "mouthful?" , "Toasted cheese and bread" .)