Raise each napkin initially, and peer underneath (7)
I believe the answer is:
ennoble
'raise' is the definition.
(I know that ennoble is a more specific form of the action raise)
'each napkin initially and peer underneath' is the wordplay.
'initially' indicates taking the first letters.
'and' says to put letters next to each other.
'peer underneath' becomes 'noble' (I've seen this in other clues. I am not sure about the 'underneath' bit.).
The first letters of 'each napkin' is 'en'.
'en'+'noble'='ENNOBLE'
(Other definitions for ennoble that I've seen before include "Bestow high rank upon" , "Elevate in rank" , "Give peerage to" , "Bestow honour upon" , "Lend greater dignity to" .)