Noble wandering about festival is very lazy (4-4)
I believe the answer is:
bone idle
'very lazy' is the definition.
(I've seen this before)
'noble wandering about festival' is the wordplay.
'wandering' indicates an anagram.
'about' is an insertion indicator.
'festival' becomes 'eid' (Muslim festival).
'noble' with letters rearranged gives 'bonle'.
'bonle' enclosing 'eid' is 'BONE-IDLE'.
'is' is the link.
(Other definitions for bone idle that I've seen before include "Extremely inactive" , "staff may be?" , "Really lazy in ossified way" , "Constitutionally lazy" , "Extremely lazy" .)