Reddish lady after vacation with caution (8)
I believe the answer is:
gingerly
'with caution' is the definition.
(I've seen this before)
'reddish lady after vacation' is the wordplay.
'reddish' becomes 'ginger'.
'after vacation' suggests removing the centre (the inside letters must vacate).
'lady' with its centre removed is 'ly'.
'ginger'+'ly'='GINGERLY'
(Other definitions for gingerly that I've seen before include "Cautiously (as if in pain?)" , "In a careful manner" , "Showing caution" , "(Approach) in a cautious manner" , "With extreme care and delicacy" .)