Material made from angora, woven around back of fez (7)
I believe the answer is:
organza
'material' is the definition.
(organza is a kind of material)
'angora woven around back of fez' is the wordplay.
'woven' indicates an anagram.
'around' means one lot of letters goes inside another.
'back of' says to take the final letters.
The last letter of 'fez' is 'z'.
'angora' is an anagram of 'organa'.
'organa' going around 'z' is 'ORGANZA'.
'made from' acts as a link.
(Other definitions for organza that I've seen before include "Silk (or silk-like) fabric" , "Silky fabric" , "Transparent silk material" , "Transparent silky material" , "Silky cloth" .)