Homeless woman happy visiting cove (3,4)
I believe the answer is:
bag lady
'homeless woman' is the definition.
(informal term for a homeless woman)
'happy visiting cove' is the wordplay.
'happy' becomes 'glad' (similar in meaning).
'visiting' means one lot of letters goes inside another.
'cove' becomes 'bay' (both can mean a coastal inlet).
'glad' put within 'bay' is 'BAG LADY'.
(Other definitions for bag lady that I've seen before include "Vagrant" , "Homeless female" , "homeless person" , "Homeless individual" , "Homeless woman" .)