Naked people looking to grab cloak, finally (8)
I believe the answer is:
starkers
'naked' is the definition.
(I've seen this before)
'people looking to grab cloak finally' is the wordplay.
'people looking' becomes 'starers' (people who stare).
'to grab' is an insertion indicator.
'finally' says to take the final letters.
The last letter of 'cloak' is 'k'.
'starers' going around 'k' is 'STARKERS'.
(Other definitions for starkers that I've seen before include "in the buff" , "Like fairytale emperor" , "exposed" , "Quite naked (colloq.)" , "in his birthday suit?" .)