Crease from edges of clasp holding skirt (5)
I believe the answer is:
crimp
'crease' is the definition.
(I know that crease can be written as crimp)
'edges of clasp holding skirt' is the wordplay.
'edges of' suggests removing the centre.
'holding' means one lot of letters goes inside another.
'skirt' becomes 'rim' (both can mean something's edge).
'clasp' with its centre taken out is 'cp'.
'cp' enclosing 'rim' is 'CRIMP'.
'from' acts as a link.
(Other definitions for crimp that I've seen before include "Press into small folds or ridges" , "Compress into small folds or ridges" , "wave" , "tight lock" , "Bend into shape" .)