Stone fairy put on point (7)
I believe the answer is:
peridot
'stone' is the definition.
(thesaurus)
'fairy put on point' is the wordplay.
'fairy' becomes 'peri' (Persian mythological being).
'put on' says to put letters next to each other.
'point' becomes 'dot' ('dot' can be a synonym of 'point'**).
'peri'+'dot'='PERIDOT'
(Other definitions for peridot that I've seen before include "I deport (anag) - gemstone" , "Pale green gemstone" , "olivine" , "Top ride (anag) - gemstone" , "Gem" .)