Trimmed around lip (3)
I believe the answer is:
rim
'lip' is the definition.
(I know that lip can be written as rim)
'trimmed around' is the wordplay.
'around' says the answer is hidden in the clue.
'RIM' can be found hidden inside 'trimmed'.
(Other definitions for rim that I've seen before include "Flange" , "Upper or outer edge" , "An edge, canyon or cup" , "Edge, border" , "Brink" .)