Mockery made of undergarment found in carrier (8)
I believe the answer is:
travesty
'mockery' is the definition.
('travesty' can be a synonym of 'mockery')
'undergarment found in carrier' is the wordplay.
'undergarment' becomes 'vest' (vest is a kind of undergarment).
'found in' means one lot of letters goes inside another.
'carrier' becomes 'tray' (I've seen this before).
'vest' placed within 'tray' is 'TRAVESTY'.
'made of' acts as a link.
(Other definitions for travesty that I've seen before include "False or distorted representation of something" , "Grossly unfair representation" , "Burlesque, parody" , "Terrible distortion of something." , "Burlesque, mockery" .)