Elegant, thin wine bottles (7)
I believe the answer is:
refined
'elegant' is the definition.
('refined' can be similar in meaning to 'elegant')
'thin wine bottles' is the wordplay.
'thin' becomes 'fine' ('fine' can be similar in meaning to 'thin').
'wine' becomes 'red' (red wine is a kind of wine**).
'bottles' is an insertion indicator ('bottle' can mean to contain).
'fine' put inside 'red' is 'REFINED'.
(Other definitions for refined that I've seen before include "With impurities removed" , "Elegant, cultured" , "Freed from impurities by processing" , "Purified, oil say" , "Tasteful; genteel" .)