English real butter oddly spread on cold toast (9)
I believe the answer is:
'toast' is the definition.
(as in raising a toast to someone)
'english real butter oddly spread on cold' is the wordplay.
'english' becomes 'e' (abbreviation).
'oddly' indicates alternate letters (letters in the odd-numbered positions are used).
'spread' is an anagram indicator.
'on' says to put letters next to each other.
'cold' becomes 'c' (eg on taps).
The alternate letters of 'butter' are 'bte'.
'realbte' is an anagram of 'lebrate'.
'elebrate' put after 'c' is 'CELEBRATE'.
(Other definitions for celebrate that I've seen before include "Have festivity for special day or occasion" , "Mark an occasion with a social gathering" , "enjoy victory" , "Perform with appropriate rites" , "Honour; make famous" .)