Crossword Genius

Part of sailing ship contains something woolly and life jacket (3,4)

Ross

I believe the answer is:

mae west

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'life jacket' is the definition.
(Mae West is an example)

I don't understand how the remainder of the clue works.

Can you help me to learn more?

(Other definitions for mae west that I've seen before include "I acted" , "Source of innuendos" , "life-saver" , "Film star; WW2 jacket" , "buoyant supporter" .)

I've seen this clue in The Times.
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