Funny one from Waco, Michigan (5)
I believe the answer is:
comic
'funny one' is the definition.
(I've seen this in another clue)
'from waco michigan' is the wordplay.
'from' indicates the answer is hidden within the clue.
'COMIC' can be found hidden inside 'waco michigan'.
(Other definitions for comic that I've seen before include "Funny, laughable" , "Funny man, often stand-up" , "publication for children" , "Droll - comedian" , "Victor once, say" .)