Lift to reveal pants (8)
I believe the answer is:
elevator
'lift' is the definition.
(I know that lift can be written as elevator)
'to reveal pants' is the wordplay.
'pants' indicates an anagram (UK informal term for 'nonsense' or 'rubbish').
'to'+'reveal'='toreveal'
'toreveal' with letters rearranged gives 'ELEVATOR'.
(Other definitions for elevator that I've seen before include "Gentle caress" , "An American lift - going up?" , "An American lift in building" , "A lift in America" , "Farm herd" .)