Bugbear, bogey (7)
I believe the answer is:
bugaboo
This clue is a double definition.
'bugbear' is the first definition.
(I know that bugbear can be written as bugaboo)
'bogey' is the second definition.
(I've seen this before)
(Other definitions for bugaboo that I've seen before include "source of alarm" , "which makes one anxious" , "Bogey" , "Object of anxiety" , "it's awful!" .)