Victims of ridicule making objections audible (5)
I believe the answer is:
butts
'victims of ridicule' is the definition.
(butts of the joke)
'objections audible' is the wordplay.
'objections' becomes 'buts' (as in 'no ifs, no buts').
'audible' indicates a 'sounds like' (homophone) clue.
'buts' is a homophone of 'BUTTS'.
'making' acts as a link.
(Other definitions for butts that I've seen before include "Large beer casks" , "Target area" , "casks such as the one that did for Clarence?" , "Victims" , "Objects of ridicule" .)