Drag, shifting old pigment (5)
I believe the answer is:
ochre
'pigment' is the definition.
(ochre is a colour)
I can't explain the rest of the clue.
(Other definitions for ochre that I've seen before include "Yellow-orange hue" , "yellowish-red" , "Yellow/brown pigment" , "Earthy pigment - light brownish-yellow" , "Orange-yellow colour" .)