Fruit — penny for every one (5)
I believe the answer is:
peach
'fruit' is the definition.
(peach is a kind of fruit)
'penny for every one' is the wordplay.
'penny' becomes 'p'.
'for every one' becomes 'each' (I've seen this before).
'p'+'each'='PEACH'
(Other definitions for peach that I've seen before include "Fleshy fruit; colour" , "... and a good-looking one" , "Soft fleshy fruit" , "Fruit - beauty" , "Velvety-skinned fruit" .)