Philip lay fulminating about teasing (7)
I believe the answer is:
playful
'teasing' is the definition.
('playful' can be similar in meaning to 'teasing')
'philip lay fulminating about' is the wordplay.
'about' says the answer is hidden in the clue.
'PLAYFUL' can be found hidden inside 'philip lay fulminating'.
(Other definitions for playful that I've seen before include "Frolicsome" , "Frisky" , "Teasing, unserious" , "Full of fun" , "Lively" .)