Fashion accessory obtained out of South American city (3)
I believe the answer is:
boa
'fashion accessory' is the definition.
(I know that boa is a type of fashion accessory)
'obtained out of south american city' is the wordplay.
'obtained' becomes 'got' ('get' can be a synonym of 'obtain').
'out of' is a deletion indicator ('out of' can mean no longer having).
'south american city' becomes 'Bogota' (capital of Colombia).
'bogota' with 'got' taken out is 'BOA'.
(Other definitions for boa that I've seen before include "strangler" , "Snake; fur" , "Fluffy scarf of feathers" , "Large snake provides a neck decoration" , "... cold-blooded creature" .)