Sly return of axes (4)
I believe the answer is:
foxy
'sly' is the definition.
(synonyms)
'return of axes' is the wordplay.
'return' says the letters should be written in reverse.
'axes' becomes 'xy' (x axis and y axis).
'of' backwards is 'fo'.
'fo'+'xy'='FOXY'
(Other definitions for foxy that I've seen before include "Using craft" , "Crafty; (paper) mildewed" , "Hot" , "Cunning - sexually attractive" , "Sly -- sexy" .)