Better leading lady for play (5)
I believe the answer is:
caper
'play' is the definition.
('caper' can be a synonym of 'play')
'better leading lady' is the wordplay.
'better' becomes 'cap' (I've seen this before**).
'leading lady' becomes 'er' (Elizabeth Regina).
'cap'+'er'='CAPER'
'for' acts as a link.
(Other definitions for caper that I've seen before include "Frolic - bud used in cooking" , "Frisk" , "Pickle ingredient" , "prickly shrub" , "Frolic - sauce!" .)