Dainty slice of caramel finger (5)
I believe the answer is:
elfin
'dainty' is the definition.
(I've seen this before)
'slice of caramel finger' is the wordplay.
'slice of' says the answer is hidden in the clue.
'ELFIN' can be found hidden inside 'caramel finger'.
(Other definitions for elfin that I've seen before include "Sprightly" , "Small and delicate like fairy" , "Like a tiny fairy" , "little character" , "Describing Santa's helpers" .)