Iron Lady's hat (6)
I believe the answer is:
fedora
'hat' is the definition.
(I know that fedora is a type of hat)
'iron lady's' is the wordplay.
'iron' becomes 'Fe' (Fe is the chemical symbol for iron).
'lady' becomes 'dora' ().
'fe'+'dora'='FEDORA'
(Other definitions for fedora that I've seen before include "Type of hat" , "Or fade away with man's soft felt hat" , "Style of hat" , "Felt hat, dented lengthwise" , "top fashion" .)