Lofty-sounding lady always laughing! (5)
I believe the answer is:
hyena
I'm afraid I can't explain this answer.
Can you help me to learn more?
(Other definitions for hyena that I've seen before include "one to laugh" , "Carrion-eating mammal" , "One laughs loud" , "Laughing carnivore" , "Carnivorous animal with howl like laughter" .)