Verse initially reconciling him, you and me (5)
I believe the answer is:
rhyme
'verse' is the definition.
('rhyme' can be a synonym of 'verse')
'initially reconciling him you and me' is the wordplay.
'initially' says to take the initial letters.
'and' is a charade indicator (letters next to each other).
The initial letters of 'reconciling him you' is 'rhy'.
'rhy'+'me'='RHYME'
(Other definitions for rhyme that I've seen before include "Word with the same final sound" , "Verse of poetry" , "A nursery . . . . . is a children's jingle" , "Similarity of word-sounds" , "Short piece of verse" .)