Clay makes a party exist (5)
I believe the answer is:
adobe
'clay' is the definition.
(I know that adobe is a type of clay)
'a party exist' is the wordplay.
'party' becomes 'do' (do is a kind of party).
'exist' becomes 'be' (synonyms).
'a'+'do'+'be'='ADOBE'
'makes' is the link.
(Other definitions for adobe that I've seen before include "Clay used for sun-dried bricks" , "Building material of clay and straw dried in the sun" , "Clay for mud bricks" , "Clay dwelling" , "house" .)