Switch around ring craft (5)
I believe the answer is:
canoe
'craft' is the definition.
(canoe is a kind of craft)
'switch around ring' is the wordplay.
'switch' becomes 'cane' (type of cane used for corporal punishment).
'around' indicates putting letters inside.
'ring' becomes 'o' (letter resembling a ring).
'cane' enclosing 'o' is 'CANOE'.
(Other definitions for canoe that I've seen before include "A dugout" , "Light boat propelled by paddle(s)" , "River craft" , "Primitive boat" , "Small boat for paddling" .)