Loop or ring inserted into part of face (5)
I believe the answer is:
noose
'loop' is the definition.
('noose' can be a synonym of 'loop')
'ring inserted into part of face' is the wordplay.
'ring' becomes 'o' (**).
'inserted into' means one lot of letters goes inside another.
'part of face' becomes 'nose' ('nose' is part of 'face').
'o' put inside 'nose' is 'NOOSE'.
'or' acts as a link.
(Other definitions for noose that I've seen before include "marriage, for a laugh" , "Sliding loop in a lasso (5)" , "trap" , "Cord snare" , "Device for capital punishment" .)