Graduate packing old long feathery scarf (3)
I believe the answer is:
boa
'long feathery scarf' is the definition.
(type of feathery garment)
'graduate packing old' is the wordplay.
'graduate' becomes 'ba' (someone with a Bachelor of Arts degree).
'packing' indicates putting letters inside (some letters are packed inside).
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'ba' going around 'o' is 'BOA'.
(Other definitions for boa that I've seen before include "Non-venomous snake" , "Snake; fur" , "Large constrictor snake" , "Potential killer" , "One with scaly body" .)