Pair, cold and dear (5)
I believe the answer is:
pricy
'dear' is the definition.
(I know that dear can be written as pricy)
'pair cold' is the wordplay.
'pair' becomes 'pr' (abbreviation).
'cold' becomes 'icy' (similar in meaning).
'pr'+'icy'='PRICY'
'and' acts as a link.
(Other definitions for pricy that I've seen before include "Expensive" , "dear!" .)
I've seen this clue in the Sydney Morning Herald.
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