Dad figures it's something handy (4)
I believe the answer is:
palm
'something handy' is the definition.
I can't tell whether this defines the answer.
'dad figures' is the wordplay.
'dad' becomes 'pa' (both can mean one's father).
'figures' becomes 'lm' (I can't explain this - if you can you should give a lot more credence to this answer).
'pa'+'lm'='PALM'
'it's' acts as a link.
Can you help me to learn more?
(Other definitions for palm that I've seen before include "Leaf in part of the hand?" , "Tree symbolising victory" , "Queen; station" , "prize" , "Inner surface of the hand" .)