Funny shape, old Lily (8)
I believe the answer is:
asphodel
'lily' is the definition.
(type of lily)
'funny shape old' is the wordplay.
'funny' is an anagram indicator.
'shape'+'old'='shapeold'
'shapeold' is an anagram of 'ASPHODEL'.
(Other definitions for asphodel that I've seen before include "Flower of lily family - old heaps (anag)" , "Elysian plant" , "Shop deal (anag.)" , "Lad hopes (anag) - flower" , "Mediterranean plant" .)