Loafer ornament (6)
I believe the answer is:
tassel
'loafer ornament' is the definition.
(I've seen this in another clue)
This is the entire clue.
(Other definitions for tassel that I've seen before include "Decorative bunch of cords" , "male hawk" , "Hanging ornament" , "Part of maize plant" , "Hanger-on perhaps" .)