Phoney English dandy (4)
I believe the answer is:
dude
'dandy' is the definition.
('dude' can be a synonym of 'dandy')
'phoney english' is the wordplay.
'phoney' becomes 'dud' (I've seen this before).
'english' becomes 'e' (abbreviation).
'dud'+'e'='DUDE'
(Other definitions for dude that I've seen before include "Stylish man (US)" , "He's no cowboy" , "City slicker" , "Dandy - US or Canadian city dweller" , "Dandy - city dweller holidaying on ranch" .)