Set off sheltered by cycle stand (8)
I believe the answer is:
pedestal
'stand' is the definition.
('pedestal' can be a synonym of 'stand')
'set off sheltered by cycle' is the wordplay.
'off' indicates anagramming the letters.
'sheltered by' indicates putting letters inside.
'cycle' becomes 'pedal' ('pedal' can be a synonym of 'cycle').
'set' anagrammed gives 'est'.
'est' inserted inside 'pedal' is 'PEDESTAL'.
(Other definitions for pedestal that I've seen before include "Place for idol, or basin" , "Stand for statue or basin" , "Place for hero" , "Those worshipped are put on one" , "Base (for statue, etc)" .)