Regularly flaunt electronic instrument (4)
I believe the answer is:
lute
'instrument' is the definition.
(lute is a kind of instrument)
'regularly flaunt electronic' is the wordplay.
'regularly' indicates alternate letters (regularly take one letter, leave next etc.).
'electronic' becomes 'e' (as in e-mail or e-books).
The alternate letters of 'flaunt' are 'lut'.
'lut'+'e'='LUTE'
(Other definitions for lute that I've seen before include "Subject to drugs" , "clay" , "Old guitar-like instrument played by minstrels" , "Play instrument" , "Protective packing" .)