Smiley caught feeling outside (8)
I believe the answer is:
emoticon
'smiley' is the definition.
(I've seen this before)
'caught feeling outside' is the wordplay.
'caught' becomes 'c' (cricket abbreviation).
'feeling' becomes 'emotion' (emotion is a kind of feeling).
'outside' is an insertion indicator.
'c' put inside 'emotion' is 'EMOTICON'.
(Other definitions for emoticon that I've seen before include "state of mind symbol" , "Screen symbol expressing feeling" , "Facial expression created by characters in electronic message" , "Smiley, eg" , "Moody characters" .)