Show's act peels, dancing around clubs (9)
I believe the answer is:
spectacle
'show's' is the definition.
(thesaurus)
'act peels dancing around clubs' is the wordplay.
'dancing' indicates an anagram.
'around' is an insertion indicator.
'clubs' becomes 'c' (abbreviation used in card games such as bridge).
'act'+'peels'='actpeels'
'actpeels' is an anagram of 'spectale'.
'spectale' placed around 'c' is 'SPECTACLE'.
(Other definitions for spectacle that I've seen before include "Elaborate and remarkable display" , "Picture" , "Showy pageant" , "Remarkable sight" , "public exhibition" .)