Ruby or emerald (3)
I believe the answer is:
gem
This clue is a double definition.
'ruby' is the first definition.
(ruby is an example)
'emerald' is the second definition.
(I've seen this in another clue)
(Other definitions for gem that I've seen before include "perfect specimen" , "one of the Cairngorms?" , "36 Across or any other jewel" , "Pleasant and cheerful (from German)" , "Emerald or sapphire, say" .)