Not entirely good, and yet excellent! (5)
I believe the answer is:
dandy
'excellent' is the definition.
(thesaurus)
'not entirely good and yet' is the wordplay.
'not entirely' indicates a hidden word.
'DANDY' is hidden in the letters of 'good and yet'.
(Other definitions for dandy that I've seen before include "Playboy" , "Fop; excellent (US)" , "Fashionable fellow" , "Stylish dresser" , "one of stylish ways" .)