Look good surrounded by Spanish cheer (4)
I believe the answer is:
ogle
'look' is the definition.
(ogling is a kind of looking)
'good surrounded by spanish cheer' is the wordplay.
'good' becomes 'g' (abbreviation).
'surrounded by' means one lot of letters goes inside another.
'spanish cheer' becomes 'ole' (I've seen this before).
'g' put into 'ole' is 'OGLE'.
(Other definitions for ogle that I've seen before include "lewd look" , "Give the glad eye" , "Gape at" , "Lecherous look" , "Look with desire" .)