TV star, yet almost ridiculous caricature (8)
I believe the answer is:
travesty
'caricature' is the definition.
(travesty is a kind of caricature)
'tv star yet almost ridiculous' is the wordplay.
'almost' means to remove the first letter.
'ridiculous' is an anagram indicator.
'tv'+'star'+'yet'='tvstaryet'
'tvstaryet' with its first letter removed is 'vstaryet'.
'vstaryet' is an anagram of 'TRAVESTY'.
(Other definitions for travesty that I've seen before include "Sham" , "Burlesque, parody" , "Vary test (anag.)" , "False or distorted representation of something" , "Grotesque representation" .)