Bag the prize (5)
I believe the answer is:
purse
This clue is a double definition.
'bag' is the first definition.
(I know that bag can be written as purse)
'the prize' is the second definition.
(I've seen this before)
(Other definitions for purse that I've seen before include "winnings" , "Compress (lips)" , "Prize in boxing" , "sometimes with strings attached?" , "Pucker (one's lips)" .)