Take little dog round on ship for exercise (5-2)
I believe the answer is:
press-up
'exercise' is the definition.
(I know that press-up is a type of bodyweight exercise)
'take little dog round on ship' is the wordplay.
'take' becomes 're' (I can't justify this - if you can you should give a lot more credence to this answer).
'little dog' becomes 'pup' (short for puppy).
'round' indicates putting letters inside.
'on' is an insertion indicator (as in clothing 'on' a person).
'ship' becomes 'SS' (prefix in ship names eg SS Great Britain).
're' put inside 'pup' is 'preup'.
'preup' placed around 'ss' is 'PRESS-UP'.
'for' acts as a link.
Can you help me to learn more?
(Other definitions for press-up that I've seen before include "Keep-fit exercise" , "Gymnastic floor exercise" , "Face-to-the-floor exercise" , "Form of arm exercise" , "Arm exercise while lying face down" .)