See the real picture, part of it is exquisite (8)
I believe the answer is:
ethereal
'exquisite' is the definition.
(I've seen this before)
'see the real picture part of' is the wordplay.
'part of' says the answer is hidden in the clue.
'ETHEREAL' is hidden in the letters of 'see the real picture'.
'it is' acts as a link.
(Other definitions for ethereal that I've seen before include "Celestial; insubstantial" , "Insubstantial or heavenly" , "Spiritual" , "Light, delicate, insubstantial" , "Impalpable" .)