Stylish ring with wood inlaid (7)
I believe the answer is:
dashing
'inlaid' is the definition.
Both the answer and definition are adjectives. Maybe they are linked in a way I don't understand?
'stylish ring with wood' is the wordplay.
'stylish ring' becomes 'ding' (dinging is a kind of ringing. I am not sure about the 'stylish' bit.).
'with' indicates putting letters inside.
'wood' becomes 'ash' (wood from an ash tree).
'ding' enclosing 'ash' is 'DASHING'.
(Other definitions for dashing that I've seen before include "Striking" , "Swashbuckling" , "Adventurous, confident" , "Stylish, adventurous" , "Frustrating; debonair" .)