Schoolyard challenges (5)
I believe the answer is:
dares
'schoolyard challenges' is the definition.
(I've seen this in another clue)
This is the entire clue.
(Other definitions for dares that I've seen before include "Makes bold, challenges" , "''Who ..., wins'' (SAS motto)" , "Ventures" , "Risks" , "Has the courage to do brave or dangerous thing" .)