Excitement as female friend returning (4)
I believe the answer is:
flap
'excitement' is the definition.
(I've seen this before)
'female friend returning' is the wordplay.
'female' becomes 'f' (common abbreviation).
'friend' becomes 'pal' (pal is a kind of friend).
'returning' says the letters should be written backwards.
'pal' in reverse letter order is 'lap'.
'f'+'lap'='FLAP'
'as' is the link.
(Other definitions for flap that I've seen before include "Wave up and down - panic" , "Adjustable part of wing - panic" , "Move like a bird or get into a tizzy" , "State of agitation" , "Flutter" .)