Due to blunders, Bob's out of the ring! (5)

I believe the answer is:

boobs

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'due to blunders' is the definition.
I can't judge whether this definition defines the answer.

'bob's out of the ring' is the wordplay.
'out of' is an insertion indicator (some letters on the outside of others).
'the ring' becomes 'o' (O is the shape of a ring).
'bobs' enclosing 'o' is 'BOOBS'.

Can you help me to learn more?

(Another definition for boobs that I've seen is " Blunders".)

I've seen this clue in the Evening Standard.

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