Out of the ring, perhaps, it's just talk (3)
I believe the answer is:
gas
'talk' is the definition.
(gas can mean to chat)
I cannot understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for gas that I've seen before include "THIRD PART OF 23" , "Wind" , "Eg, oxygen" , "Fumes, vapour" , "Chatter vapidly" .)