Character in The Tempest or one in Lear maybe (5)
I believe the answer is:
ariel
'character in the tempest' is the definition.
(I've seen this in another clue)
'one in lear maybe' is the wordplay.
'one' becomes 'i' (Roman numeral).
'in' indicates putting letters inside.
'maybe' indicates anagramming the letters.
'lear' with letters rearranged gives 'arel'.
'i' placed within 'arel' is 'ARIEL'.
'or' acts as a link.
(Other definitions for ariel that I've seen before include "Swallows" , "Moon" , "Would 'e rail against the spirit in The Tempest?" , "Disney character" , "Free spirit" .)