Pageant wrap (4)
I believe the answer is:
sash
'pageant wrap' is the definition.
(I've seen this in another clue)
This is the entire clue.
(Other definitions for sash that I've seen before include "Window frame; silk band" , "(Uniform) strip; window-frame" , "Band worn over shoulder or round waist" , "Cummerbund" , "Girdle" .)