It’s racy, perverted and lecherous (7)
I believe the answer is:
satyric
'lecherous' is the definition.
(thesaurus)
'it's racy perverted' is the wordplay.
'perverted' is an anagram indicator.
'its'+'racy'='itsracy'
'itsracy' with letters rearranged gives 'SATYRIC'.
'and' acts as a link.
(Other definitions for satyric that I've seen before include "like a lech?" , "libidinous?" , "lecherous?" .)