Lovely article in wood (4)
I believe the answer is:
fair
'lovely' is the definition.
(thesaurus)
'article in wood' is the wordplay.
'article' becomes 'a' (indefinite article).
'in' is an insertion indicator.
'wood' becomes 'fir' (fir is a kind of wood**).
'a' put into 'fir' is 'FAIR'.
(Other definitions for fair that I've seen before include "Traders' gathering" , "Beautiful; exhibition" , "Treating people equally" , "Just - blonde - outdoor entertainment" , "Travelling show is impartial" .)