Crossword Genius

Wild West figure's flipping tight underwear that is dropped (10)

Ross

I believe the answer is:

gunslinger

But I can't explain it at all!

(Other definitions for gunslinger that I've seen before include "Armed bandit" , "Armed cowboy perhaps" , "user of weapon" , "One with a hand weapon" , "shot by him?" .)

I've seen this clue in The Times.
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