Ring and point out choice (6)
I believe the answer is:
option
'choice' is the definition.
('option' can be a synonym of 'choice')
'ring and point out' is the wordplay.
'ring' becomes 'o'.
'and' means one lot of letters go next to another.
'out' indicates an anagram (out can mean wrong or inaccurate).
'point' is an anagram of 'ption'.
'o'+'ption'='OPTION'
(Other definitions for option that I've seen before include "possibility" , "Altenative choice" , "Right to choose" , "Possible choice" , "An act of choosing" .)