Live commercial displaying piece of jewellery (4)
I believe the answer is:
bead
'piece of jewellery' is the definition.
'bead' can be an answer for 'jewellery' (bead is a kind of jewellery). I am unsure of the 'piece of' bit.
'live commercial' is the wordplay.
'live' becomes 'be' (synonyms).
'commercial' becomes 'ad' (abbreviation for advertisement).
'be'+'ad'='BEAD'
'displaying' is the link.
Can you help me to learn more?
(Other definitions for bead that I've seen before include "Glass ball" , "Necklace element" , "Necklace component" , "Small ball with a hole through the middle" , "Spot of dew; one threaded on necklace" .)