Little container, last of many (4)
I believe the answer is:
tiny
'little' is the definition.
(similar in meaning)
'container last of many' is the wordplay.
'container' becomes 'tin' (tin is a kind of container).
'last of' says to take the final letters.
The final letter of 'many' is 'y'.
'tin'+'y'='TINY'
(Other definitions for tiny that I've seen before include "Miniature" , "Underdeveloped" , "Diminutive; small" , "Minute, diminutive" , "Extremely small" .)