Flamboyant folk regularly having a fling (6)
I believe the answer is:
flashy
'flamboyant' is the definition.
(thesaurus)
'folk regularly having a fling' is the wordplay.
'regularly' means one should take alternating letters (regularly take one letter, leave next etc.).
'having' is a charade indicator (letters next to each other).
'fling' becomes 'shy' (I've seen this before).
The alternating letters of 'folk' are 'fl'.
'fl'+'a'+'shy'='FLASHY'
(Other definitions for flashy that I've seen before include "Showily stylish" , "Cheap and ostentatious" , "Superficially brilliant" , "Flamboyantly attractive" , "Loud" .)