Utterance of a hound or a horse (3)
I believe the answer is:
bay
'horse' is the definition.
(I know that bay is a type of horse)
'utterance of a hound or a' is the wordplay.
I cannot quite see how this works, but
'a' is within the answer.
The remaining letters 'by' is a valid word which might be clued in a way I don't understand.
This may be the basis of the clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for bay that I've seen before include "Laurel tree - bark" , "Chestnut" , "Botany, Galway or Tampa" , "Inlet, cove" , "Part of sea" .)