Tribute perfectly covering saint (5)
I believe the answer is:
toast
'tribute' is the definition.
(I've seen this before)
'perfectly covering saint' is the wordplay.
'perfectly' becomes 'to a t' ('to a T' or 'to a tee' can mean perfectly).
'covering' is an insertion indicator.
'saint' becomes 's'.
'toat' enclosing 's' is 'TOAST'.
(Other definitions for toast that I've seen before include "Wish for someone's continued health" , "Celebrate" , "Heat bread" , "Browned bread; health" , "Grilled bread - drink (to)" .)