Valance holder (3)
I believe the answer is:
rod
'valance holder' is the definition.
(I've seen this in another clue)
This is all the clue.
(Other definitions for rod that I've seen before include "Old saying 'Spare the . . . and spoil the child'" , "Measurement" , "Angler's cane" , "Staff" , "A stiff stick" .)