Aristocrat and paragon, beheaded (4)
I believe the answer is:
earl
'aristocrat' is the definition.
(I've seen this before)
'paragon beheaded' is the wordplay.
'paragon' becomes 'pearl' (I've seen this before).
'beheaded' means to remove the first letter.
'pearl' with its initial letter taken away is 'EARL'.
'and' is the link.
(Other definitions for earl that I've seen before include "A lord like Lear" , "Rank immediately above viscount" , "Sandwich perhaps" , "Male member of British nobility" , "British nobleman" .)