Crossword Genius

Prize muppet? (5)

Ross

I believe the answer is:

oscar

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'prize' is the definition.
(an Academy Award)

I don't understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for oscar that I've seen before include "The familiar Mr Wilde, playwright" , "Statuette awarded by Hollywood Academy" , "Film industry award" , "Librettist Hammerstein, d. 1960" , "Film award; --- Hammerstein" .)

I've seen this clue in the Sydney Morning Herald.
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