Points to the fully finished boot (5)

I believe the answer is:

welly

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'boot' is the definition.
(short for Wellington boot)

I don't understand the rest of the clue.

(Other definitions for welly that I've seen before include "wet-weather gear" , "Boot (informal)" , "showing great commitment" , "Rubber boot (abbr)" , "Oomph" .)

I've seen this clue in the Evening Standard.

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