Crack below bottom of statue's arm (5)
I believe the answer is:
equip
'arm' is the definition.
(arm can mean to equip or supply)
'crack below bottom of statue's' is the wordplay.
'crack' becomes 'quip' (both can mean a joke).
'below' says to put letters next to each other (in a down clue, some letters go below others).
'bottom of' says to take the final letters.
The last letter of 'statue' is 'e'.
'quip' after 'e' is 'EQUIP'.
(Other definitions for equip that I've seen before include "Provide stuff" , "Supply with what is needed" , "Supply (with kit)" , "Provide everything that is required'" , "Provide what's needed" .)