Queen in banner (4)
I believe the answer is:
anne
'queen' is the definition.
(Queen Anne, 18th-century queen)
'in banner' is the wordplay.
'in' indicates the answer is hidden within the clue.
'ANNE' is hidden in the letters of 'banner'.
(Other definitions for anne that I've seen before include "'---- of Green Gables', novel by Lucy Maud Montgomery" , "Queen 1702-1714" , "One of Henry VIII's wives" , "- - of Cleves" , "Boleyn or Hathaway, say" .)