Group of tongues wagging - ultimately following small party (7)
I believe the answer is:
shindig
'party' is the definition.
(I know that shindig is a type of party)
'group of tongues wagging ultimately following small' is the wordplay.
'group of tongues' becomes 'hindi' (I am not sure about this - if you are sure you should believe this answer much more).
'ultimately' indicates one should take the final letters.
'following' says to put letters next to each other.
'small' becomes 's' (abbreviation - e.g. clothes size).
The last letter of 'wagging' is 'g'.
'hindi'+'g'='hindig'
'hindig' put after 's' is 'SHINDIG'.
Can you help me to learn more?
(Other definitions for shindig that I've seen before include "Rumpus" , "Hooley" , "Lively celebration (informal)" , "Big lively party (colloq.)" , "Noisy knees-up" .)