Exquisite red (4)
I believe the answer is:
rare
This clue is a double definition.
'exquisite' is the first definition.
(thesaurus)
'red' is the second definition.
(as in a rare steak)
(Other definitions for rare that I've seen before include "Scarcely seen" , "Very infrequent, lightly cooked" , "of low density" , "little done?" , "'Unusual, uncommon (4)'" .)