In the spy-ring, is jumpy (7)
I believe the answer is:
springy
'is jumpy' is the definition.
(I've seen this before)
'in the spy-ring' is the wordplay.
'in' indicates putting letters inside.
'spy' placed around 'ring' is 'SPRINGY'.
(Other definitions for springy that I've seen before include "jumpy" , "With bounce" , "Elastic, resilient" .)