Good old Ford model right for small racer (2-4)
I believe the answer is:
go-kart
'small racer' is the definition.
(I've seen this in another clue)
'good old ford model right' is the wordplay.
'good' becomes 'g' (abbreviation).
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'ford' becomes 'ka' (the Ka is a type of Ford car).
'model right' becomes 'rt' (abbreviation as in Rt Hon- the Right Honourable. I am not sure about the 'model' bit.).
'g'+'o'+'ka'+'rt'='GO-KART'
'for' acts as a link.
Can you help me to learn more?
(Other definitions for go-kart that I've seen before include "Small, low racer" , "Lightweight racer" , "Small motor-racing vehicle" , "Small low motor vehicle used for racing" , "Miniature racing car with skeleton body" .)