Ocelot finally spots litter (5)
I believe the answer is:
trash
'litter' is the definition.
(I've seen this before)
'ocelot finally spots' is the wordplay.
'finally' suggests the final letters.
'spots' becomes 'rash' (I've seen this before).
The last letter of 'ocelot' is 't'.
't'+'rash'='TRASH'
(Other definitions for trash that I've seen before include "Refuse, waste" , "Rubbish, worthless stuff" , "Anything of poor quality" , "bunk" , "Waste material (US)" .)