... it's played for laughs? (5)
I believe the answer is:
sport
This clue is a double definition.
'it's played' is the first definition.
(I've seen this in another clue)
'laughs?' is the second definition.
(thesaurus)
'for' acts as a link.
(Other definitions for sport that I've seen before include "Fun; wear" , "Eg, football; fun" , "Eg, rugby" , "Game; display" , "Physical activity" .)