Elegant fabric concealing article (4)
I believe the answer is:
neat
'elegant' is the definition.
('neat' can be similar in meaning to 'elegant')
'fabric concealing article' is the wordplay.
'fabric' becomes 'net' (net is a kind of fabric**).
'concealing' means one lot of letters goes inside another.
'article' becomes 'a' (indefinite article).
'net' placed around 'a' is 'NEAT'.
(Other definitions for neat that I've seen before include "well-kept" , "In good order, tidy" , "Well-trimmed" , "beef" , "Ordered; without water" .)