Snake holed out in bog plant (8)

I believe the answer is:

asphodel

I'm a little stuck... Click here to teach me more about this clue!

'bog plant' is the definition.
'asphodel' can be an answer for 'plant' (type of flower). I'm not sure about the 'bog' bit.

'snake holed out in' is the wordplay.
'snake' becomes 'asp' (asp is a kind of snake).
'out' indicates anagramming the letters (out can mean wrong or inaccurate).
'in' is an insertion indicator.
'holed' anagrammed gives 'hodel'.
'asp' going into 'hodel' is 'ASPHODEL'.

Can you help me to learn more?

(Other definitions for asphodel that I've seen before include "Lily-like plant, the flower of death to ancient Greeks" , "Plant of lily family - lop heads (anag)" , "Shop deal (anag.)" , "Flower of lily family - old heaps (anag)" , "Mediterranean plant" .)

I've seen this clue in the Sydney Morning Herald.

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