Gave about a quid for something wearable (5)
I believe the answer is:
plaid
'something wearable' is the definition.
I can't judge whether this defines the answer.
'gave about a quid for' is the wordplay.
'gave' becomes 'paid' (paying is a kind of giving).
'about' is an insertion indicator.
'a quid for' becomes 'l' (I am not sure about this - if you are sure you should believe this answer much more).
'paid' enclosing 'l' is 'PLAID'.
Can you help me to learn more?
(Other definitions for plaid that I've seen before include "Tartan twill cloth" , "Tartan patterned cloth" , "Tartan cloth, part of Highland dress" , "Tartan twilled cloth" , "piece of cloth" .)