Label meat cooked for partners in the ring (3,4)
I believe the answer is:
tag team
'partners in the ring' is the definition.
(two wrestlers working together in the ring)
'label meat cooked' is the wordplay.
'label' becomes 'tag' (synonyms).
'cooked' is an anagram indicator (letters cooked into a new form).
'meat' is an anagram of 'team'.
'tag'+'team'='TAG TEAM'
'for' acts as a link.
(Other definitions for tag team that I've seen before include "Pair of wrestlers fighting together" , "Pair of co-operating wrestlers" .)