Funny limp only reduced left shoe (8)
I believe the answer is:
plimsoll
'shoe' is the definition.
(plimsoll is a kind of shoe)
'funny limp only reduced left' is the wordplay.
'funny' indicates anagramming the letters.
'only' becomes 'sole' (synonyms).
'reduced' means to remove the last letter.
'left' becomes 'l' (common abbreviation).
'sole' with its final letter taken off is 'sol'.
'limp' is an anagram of 'plim'.
'plim'+'sol'+'l'='PLIMSOLL'
(Other definitions for plimsoll that I've seen before include "'the sailors' friend'" , "Canvas shoe" , "-- Line, a mark on ships showing loading" , "Sports shoe; a line" , "Pump social reformer" .)