Flap of limited value wobbling round centre of mouth (5)
I believe the answer is:
uvula
'flap' is the definition.
(uvula is a kind of flap)
'limited value wobbling round centre of mouth' is the wordplay.
'limited' means to remove the last letter.
'wobbling' indicates an anagram.
'round' means one lot of letters goes inside another.
'centre of' says to take the centre.
The centre of 'mouth' is 'u'.
'value' with its last letter taken off is 'valu'.
'valu' is an anagram of 'uvla'.
'uvla' enclosing 'u' is 'UVULA'.
'of' acts as a link.
(Other definitions for uvula that I've seen before include "Fleshy projection hanging from roof of mouth" , "Fleshy part of the palate" , "Mouthpiece" , "Fleshy flap" , "Fleshy lobe" .)