King hates fancy red suit (6)
I believe the answer is:
hearts
'red suit' is the definition.
(I've seen this before)
'king hates fancy' is the wordplay.
'king' becomes 'r' (r is abbreviation for rex).
'fancy' indicates an anagram.
'r'+'hates'='rhates'
'rhates' with letters rearranged gives 'HEARTS'.
(Other definitions for hearts that I've seen before include "Scots club nickname; suit" , "Major suit at cards" , "Scottish footballers" , "quarterdeck?" , "Suit for vital organs" .)