Ludicrous panto available (2,3)
I believe the answer is:
on tap
'available' is the definition.
('on tap' can be similar in meaning to 'available')
'ludicrous panto' is the wordplay.
'ludicrous' indicates an anagram.
'panto' is an anagram of 'ON TAP'.
(Other definitions for on tap that I've seen before include "readily accessible" , "Available (for drinking?)" , "Available whenever needed" , "handy" , "Ready to be drawn off, say beer" .)