Penniless poet's strip (4)
I believe the answer is:
lath
'strip' is the definition.
(I know that lath is a type of slat)
I cannot understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for lath that I've seen before include "Strip of wood, backing for plaster say" , "Strip of wood used as a base for plastering" , "Thin wood strip supporting plaster" , "Strip of wood used with plaster" , "Narrow strip of wood used as backing for plasterwork" .)