Ridiculous bards dancing round university (6)
I believe the answer is:
absurd
'ridiculous' is the definition.
(synonyms)
'bards dancing round university' is the wordplay.
'dancing' indicates anagramming the letters.
'round' indicates putting letters inside.
'university' becomes 'u' (abbreviation for university).
'bards' anagrammed gives 'absrd'.
'absrd' placed around 'u' is 'ABSURD'.
(Other definitions for absurd that I've seen before include "10 18's [SAMUAL BECKETT] style of theatre" , "Idiotic" , "Wildly illogical" , "Derisory, preposterous" , "Quite ridiculous, laughable" .)