Ringing twice from the fairground (10)

I believe the answer is:

roundabout

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'ringing' is the definition.
Both the definition and answer are adjectives. Maybe they are linked in a way I don't understand?

I cannot understand how the remainder of the clue works.

Can you help me to learn more?

(Other definitions for roundabout that I've seen before include "Indirect" , "playground attraction" , "devious" , "More or less" , "fun for children" .)

I've seen this clue in the Evening Standard.

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