See monarch about a wild ass (5)

I believe the answer is:

kiang

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'ass' is the definition.
(I know that kiang is a type of wild ass)

'see monarch about a wild' is the wordplay.
'see monarch' becomes 'K' (chess abbreviation).
'about' means one lot of letters goes inside another.
'wild' becomes 'ing' (I can't justify this - if you can you should believe this answer much more).
'a' put into 'ing' is 'iang'.
'k'+'iang'='KIANG'

Can you help me to learn more?

(Another definition for kiang that I've seen is " ass from Tibet".)

I've seen this clue in the Sydney Morning Herald.

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