Newspaper article containing variable material (7)
I believe the answer is:
organza
'material' is the definition.
(organza is a kind of material)
'newspaper article containing variable' is the wordplay.
'newspaper' becomes 'organ' (I've seen this before**).
'article' becomes 'a' (indefinite article).
'containing' indicates putting letters inside.
'variable' becomes 'z' (algebra).
'organ'+'a'='organa'
'organa' going around 'z' is 'ORGANZA'.
(Other definitions for organza that I've seen before include "Silky cloth" , "Thin material" , "Silk (or silk-like) fabric" , "Silky fabric" , "Transparent silk material" .)