Playing chord, holding one flower (6)
I believe the answer is:
orchid
'flower' is the definition.
(I know that orchid is a type of flower)
'playing chord holding one' is the wordplay.
'playing' is an anagram indicator.
'holding' is an insertion indicator.
'one' becomes 'i' (Roman numeral).
'chord' anagrammed gives 'orchd'.
'orchd' going around 'i' is 'ORCHID'.
(Other definitions for orchid that I've seen before include "Plant with complex blooms" , "Exotic and much treasured flower" , "Chord I turn into a flower" , "Exotic flower with bee and lady varieties" , "Lush and expensive tropical flower" .)