Cut The Wrong Trousers (3)
I believe the answer is:
hew
'cut' is the definition.
(hew can mean to chop or cut)
'the wrong trousers' is the wordplay.
'trousers' indicates a hidden word (trouser can mean to steal or take).
'HEW' is hidden in the letters of 'the wrong'.
(Other definitions for hew that I've seen before include "Chop; sounds like colour" , "Chop or hack at" , "Carve with axe" , "'Cut, fell or shape (3)'" , "Shape wood, as with an axe" .)