Sad it's gone? Not cool, Vlad's loincloth (5)
I believe the answer is:
dhoti
'loincloth' is the definition.
(dhoti is a kind of loincloth)
'sad it's gone? not cool vlad's' is the wordplay.
'it' becomes 'sa' (old-fashioned abbreviation for sex appeal).
'gone?' indicates named letters should be taken away.
'not cool' becomes 'hot' (hot is the opposite of cool).
'vlad' becomes 'I' (where the crossword setter is 'Vlad').
'sad' with 'sa' taken away is 'd'.
'd'+'hot'+'i'='DHOTI'
(Other definitions for dhoti that I've seen before include "Lean over; end of loaf" , "pants in Goa?" , "Indian attire" , "Cloth round middle" , "Indian loincloth" .)