Cary may be blue (4)

I believe the answer is:

racy

'blue' is the definition.
('racy' can be a synonym of 'blue')

'cary may be' is the wordplay.
'may be' indicates an anagram.
'cary' is an anagram of 'RACY'.

(Other definitions for racy that I've seen before include "Spicy" , "Slightly indecent" , "Sexually suggestive" , "Lively" , "rather blue" .)

I've seen this clue in the Evening Standard.

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