Seductive woman with a teasing desire (5)
I believe the answer is:
witch
'seductive woman' is the definition.
(witch can figuratively mean a seductive woman)
'with a teasing desire' is the wordplay.
'with' becomes 'w' (abbreviation).
'a teasing desire' becomes 'itch' (I've seen this before).
'w'+'itch'='WITCH'
(Other definitions for witch that I've seen before include "Bad speller!" , "... and magician" , "'The Lion, the - - and the Wardrobe'" , "Sorceress" , "One of a coven" .)