Paper plane out of an illustration (7)
I believe the answer is:
example
'illustration' is the definition.
(synonyms)
'paper plane out of an' is the wordplay.
'paper' becomes 'exam' (exam paper).
'out of' is a deletion indicator.
'plane' with 'an' taken out is 'ple'.
'exam'+'ple'='EXAMPLE'
(Other definitions for example that I've seen before include "lesson" , "not the actual version" , "Instance - pattern" , "Instance or illustration" , "Precedent" .)