Big deal in scrap, a dandy cut into it (4,2,2)
I believe the answer is:
what of it
'big deal' is the definition.
Both the answer and definition are interjections.
Perhaps there's a link between them I don't understand?
'in scrap a dandy cut into it' is the wordplay.
'in scrap' becomes 'whit' (both can mean a tiny amount. I am not sure about the 'in' bit.).
'dandy' becomes 'toff' (I've seen this in another clue).
'cut' means to remove the last letter.
'into it' indicates putting letters inside.
'a'+'toff'='atoff'
'atoff' with its final letter taken away is 'atof'.
'whit' placed around 'atof' is 'WHAT OF IT?'.
Can you help me to learn more?
(Another definition for what of it that I've seen is " does it matter?".)