Reddish lolly, a sweet snack? (11)
I believe the answer is:
gingerbread
'a sweet snack?' is the definition.
'reddish lolly' is the wordplay.
'reddish' becomes 'ginger'.
'lolly' becomes 'bread' (both are slang terms for money).
'ginger'+'bread'='GINGERBREAD'
(Other definitions for gingerbread that I've seen before include "Biscuit cut into shapes" , "Fancy decoration" , "Spiced biscuit shaped like a chap" , "Spicy cake" , "Cheap and tawdry - type of cake" .)