Dispose of one fancy clue, make fun of it (8)
I believe the answer is:
ridicule
'fun of it' is the definition.
I can't judge whether this definition defines the answer.
'dispose of one fancy clue' is the wordplay.
'dispose of' becomes 'rid' (to get rid of is to dispose of).
'one' becomes 'i' (Roman numeral).
'fancy' is an anagram indicator.
'clue' is an anagram of 'cule'.
'rid'+'i'+'cule'='RIDICULE'
'make' is the link.
Can you help me to learn more?
(Other definitions for ridicule that I've seen before include "Poke fun at" , "satire" , "Mock, make fun of." , "I rid clue of derision" , "Subjection to mockery and derision" .)