Plane, one with brightly coloured wings
I believe the answer is:
tiger moth
This clue is a double definition.
'plane' is the first definition.
(de Havilland Tiger Moth is a type of plane)
'one with brightly coloured wings' is the second definition.
(the tiger moth species of moth)
(Other definitions for tiger moth that I've seen before include "Plane" , "this one has brightly-coloured wings" , "Spotted flyer" , "producer of woolly bears" , "Insect - aeroplane" .)