Points out the nose (5)
I believe the answer is:
snout
'the nose' is the definition.
(snout is a kind of nose)
'points out' is the wordplay.
'points' becomes 'sn'.
'sn'+'out'='SNOUT'
(Other definitions for snout that I've seen before include "Tobacco -- hooter" , "nose of pig" , "Nose and mouth of a mammal" , "Animal's muzzle" , "Projecting nasal area of animal" .)