Honour with silk knitted by needle (7)
I believe the answer is:
obelisk
'needle' is the definition.
(I've seen this before)
'honour with silk knitted' is the wordplay.
I cannot quite see how this works, but
'honour' could be 'obe' (Order of the British Empire award) and 'obe' is located in the answer.
an anagram of 'silk' is 'lisk' which is located in the answer.
No letters remain.
This may be the basis of the clue (or it may be nonsense).
'by' is the link.
Can you help me to learn more?
(Other definitions for obelisk that I've seen before include "Stone pillar tapering towards a point" , "Tall tapering pillar as monument or landmark" , "Pyramidal monument" , "Tapering square pillar" , "Cleopatra's Needle, for instance" .)