Hang out tops to dry, with exotic lacy lingerie (5)
I believe the answer is:
dwell
'hang out' is the definition.
(I've seen this before)
'tops to dry with exotic lacy lingerie' is the wordplay.
'tops to' indicates taking the first letters (the top letters from the words).
The initial letters of 'dry with exotic lacy lingerie' is 'DWELL'.
(Other definitions for dwell that I've seen before include "Think moodily (on something)" , "Remain" , "Hang out" , "stay" , "Abide, reside" .)