Slightly drunk graduate, man giving good cheer (11)
I believe the answer is:
merrymaking
'good cheer' is the definition.
(thesaurus)
'slightly drunk graduate man' is the wordplay.
'slightly drunk' becomes 'merry' (I've seen this in other clues).
'graduate' becomes 'MA' (abbreviation for Master of Arts).
'man' becomes 'King' (man can mean a chess piece).
'merry'+'ma'+'king'='MERRYMAKING'
'giving' is the link.
I've seen this clue in The Telegraph.
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