Felt item of clothing; a piece turned over to iron (6)
I believe the answer is:
fedora
'felt item of clothing' is the definition.
'a piece turned over to iron' is the wordplay.
'piece' becomes 'rod' (both are slang terms for a gun**).
'turned over' shows that the letters should be reversed in order.
'to' means one lot of letters go next to another (I've seen this in other clues).
'iron' becomes 'fe' ('Fe' can be a synonym of 'iron').
'a'+'rod'='arod'
'arod' written backwards gives 'dora'.
'dora' after 'fe' is 'FEDORA'.
(Other definitions for fedora that I've seen before include "Headgear" , "Felt hat dented sideways" , "Style of hat" , "Headwear" , "Read of (anag) - brimmed felt hat" .)