Rank hat as being something that may be made out of this? (9)
I believe the answer is:
astrakhan
'rank hat' is the definition.
'astrakhan' can be an answer for 'hat' (thesaurus). I am unsure of the 'rank' bit.
'as being something that may be made out of this?' is the wordplay.
I cannot quite understand how this works, but
'as' is found in the answer.
This may be the basis of the clue (or it may be nonsense).
(Other definitions for astrakhan that I've seen before include "Curly fleece of an Asian breed of lambs" , "Lambskin with curled wool" , "woollen material" , "Type of fur and Russian city" , "Fur made from tightly-curled lambs wool" .)