Elevated position embraced by parent's artistic movement (7)
I believe the answer is:
dadaism
'artistic movement' is the definition.
(Dadaism is an example)
'elevated position embraced by parent's' is the wordplay.
'elevated position' becomes 'dais' (a dais is a raised stand).
'embraced by' means one lot of letters goes inside another.
'parent' becomes 'dam' (term for the female parent of an animal).
'dais' going inside 'dam' is 'DADAISM'.
(Other definitions for dadaism that I've seen before include "Absurd movement" , "artistic movement" , "Early twentieth century art movement" , "Anti-art movement" .)