Carol fashioned jewellery material (5)
I believe the answer is:
coral
'jewellery material' is the definition.
'coral' can be an answer for 'material' (I have seen 'hard material' mean 'coral' so perhaps 'material' could also mean 'coral'). I am not certain of the 'jewellery' bit.
'carol fashioned' is the wordplay.
'fashioned' is an anagram indicator.
'carol' with letters rearranged gives 'CORAL'.
Can you help me to learn more?
(Other definitions for coral that I've seen before include "Main resident" , "Reef-forming skeletons" , "hard material" , "Basic material of South Sea islands" , "Shade of pink" .)