A stream round university, reddish brown (6)
I believe the answer is:
auburn
'reddish brown' is the definition.
(I've seen this before)
'a stream round university' is the wordplay.
'stream' becomes 'burn' (a burn is a small stream).
'round' indicates putting letters inside.
'university' becomes 'u'.
'a'+'burn'='aburn'
'aburn' going around 'u' is 'AUBURN'.
(Other definitions for auburn that I've seen before include "Shade of hair" , "Name of Goldsmith's deserted village (6)" , "Reddish-brown, hair say" , "Goldsmith: 'Sweet . . . . . . loveliest village of the plain'" , "Shade of brown" .)