Angry fellow, out of the race (5)
I believe the answer is:
ratty
'angry' is the definition.
(thesaurus)
'fellow out of the race' is the wordplay.
'fellow' becomes 'ray' (man's name).
'out of' is an insertion indicator (some letters on the outside of others).
'the race' becomes 'tt'.
'ray' placed around 'tt' is 'RATTY'.
(Other definitions for ratty that I've seen before include "Short" , "describing vermin" , "with hump?" , "infestation of vermin" , "Wretched" .)