Crossword Genius

Fairytale gangster on a chestnut's back? (3,6,4)

Ross

I believe the answer is:

red riding hood

I'm a little stuck... Click here to teach me more about this clue!

'fairytale' is the definition.
Both the definition and answer are singular nouns.
Maybe they are linked in a way I don't understand?

'gangster on a chestnut's back?' is the wordplay.
'gangster' becomes 'hood' (I've seen this before).
'on' is a charade indicator (letters next to each other).
'a chestnut' becomes 'red' (chestnut is a shade of red).
'back?' becomes 'riding' (I can't explain this - if you can you should give a lot more credence to this answer).
'red'+'riding'='redriding'
'hood' put after 'redriding' is 'RED RIDING HOOD'.

Can you help me to learn more?

(Other definitions for red riding hood that I've seen before include "Girl in tale encountering wolf" , "Fairy tale character involved with a wolf" , "Little fairytale character in a cloak" .)

I've seen this clue in the Sydney Morning Herald.
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