Clasp that is gift (7)
I believe the answer is:
pressie
'gift' is the definition.
(short for 'present')
'clasp that is' is the wordplay.
'clasp' becomes 'press' (I can't explain this - if you can you should believe this answer much more).
'that is' becomes 'ie' (short for Latin 'id est', 'that is').
'press'+'ie'='PRESSIE'
Can you help me to learn more?
(Other definitions for pressie that I've seen before include "Something freely given" , "Informally, offering" , "Gift (colloq.)" .)