Funky tear in trousers youths initiated (6)
I believe the answer is:
trendy
'funky' is the definition.
(both can mean fashionable or cool)
'tear in trousers youths initiated' is the wordplay.
'tear' becomes 'rend' (rending is a kind of tearing).
'in' is an insertion indicator.
'initiated' suggests taking the first letters.
The first letters of 'trousers youths' is 'ty'.
'rend' put inside 'ty' is 'TRENDY'.
(Other definitions for trendy that I've seen before include "Consciously fashionable" , "Modish" , "With-it" , "Chic (colloq.)" , "Cool" .)