Old material put up, secure decoration (7)
I believe the answer is:
garland
'decoration' is the definition.
(garland is a kind of decoration)
'old material put up secure' is the wordplay.
'old material' becomes 'rag' (**).
'put up' is a reversal indicator.
'secure' becomes 'land' (I've seen this in other clues).
'rag' in reverse letter order is 'gar'.
'gar'+'land'='GARLAND'
(Other definitions for garland that I've seen before include "Festoon of flowers" , "Floral festoon" , "Judy . . . . . . . who played Dorothy in The Wizard of Oz" , "Blooming prize" , "Flower wreath" .)