Parisian pig swallowing a black stone (8)

I believe the answer is:

cabochon

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'stone' is the definition.
(I know that cabochon is a type of stone)

'parisian pig swallowing a black' is the wordplay.
'parisian pig' becomes 'cochon' (I am not sure about this - if you are sure you should believe this answer much more).
'swallowing' means one lot of letters goes inside another.
'black' becomes 'b' (as in pencil classifications).
'a'+'b'='ab'
'cochon' going around 'ab' is 'CABOCHON'.

Can you help me to learn more?

(Other definitions for cabochon that I've seen before include "Stone" , "Gem that's been polished but not faceted" .)

I've seen this clue in The Times.

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