Taurus, say, features gin cocktail (4,4)
I believe the answer is:
star sign
'taurus say' is the definition.
(I know that Taurus is a star sign)
'features gin cocktail' is the wordplay.
'features' becomes 'stars' (eg a film features or stars its cast).
'cocktail' indicates anagramming the letters.
'gin' with letters rearranged gives 'ign'.
'stars'+'ign'='STAR SIGN'
(Other definitions for star sign that I've seen before include "Zodiacal figure" , "Cancer or Capricorn, say" , "One area into which the zodiac is divided" , "rude demand for famous autograph?" , "Eg, Taurus" .)