Snare wild ones circling round (5)
I believe the answer is:
noose
'snare' is the definition.
('noose' can be a synonym of 'snare')
'wild ones circling round' is the wordplay.
'wild' indicates an anagram.
'circling' is an insertion indicator (circling can mean going around or containing).
'round' becomes 'o' (round can mean a round object**).
'ones' is an anagram of 'nose'.
'nose' enclosing 'o' is 'NOOSE'.
(Other definitions for noose that I've seen before include "Bond" , "Looped rope" , "Snare, restraint" , "Hangman's equipment" , "A loop for the hangman" .)