King in charge in ripped hat (7)
I believe the answer is:
tricorn
'hat' is the definition.
(tricorn is a kind of hat)
'king in charge in ripped' is the wordplay.
'king' becomes 'R' (abbreviation for rex, king in Latin).
'in charge' becomes 'ic' (abbreviation for 'in charge').
'in' is an insertion indicator.
'ripped' becomes 'torn' (synonyms).
'r'+'ic'='ric'
'ric' going into 'torn' is 'TRICORN'.
(Other definitions for tricorn that I've seen before include "old hat" , "Cocked hat with brim turned up on three sides" , "Type of cocked hat" , "Hat with upturned brim" , "head wear" .)