Hoarder’s small slip turned into short bedcover (8)
I believe the answer is:
squirrel
'hoarder's' is the definition.
(I've seen this before)
I cannot understand how the remainder of the clue works.
(Other definitions for squirrel that I've seen before include "Timmy Tiptoes, for example" , "See 9" , "Gnawing animal" , "Tree-climbing rodent with bushy tail, red or grey" , "- Nutkin (Potter)" .)