Cut out of wet chalk (4)
I believe the answer is:
etch
'cut' is the definition.
(I've seen this in other clues)
'out of wet chalk' is the wordplay.
'out of' indicates the answer is hidden within the clue.
'ETCH' can be found hidden inside 'wet chalk'.
(Other definitions for etch that I've seen before include "Chase" , "Engrave (glass/metal)" , "Use acid to cut design" , "Imprint vividly" , "Carve into metal with acid" .)