Yanks with short jackets, not in (5)
I believe the answer is:
jerks
'yanks' is the definition.
('jerk' can be a synonym of 'yank')
'short jackets not in' is the wordplay.
'short jackets' becomes 'jerkins' (historical garment).
'not' is a deletion indicator.
'jerkins' with 'in' taken out is 'JERKS'.
'with' acts as a link.
(Other definitions for jerks that I've seen before include "stupid people" , "Yanks'" , "Exercises; fools (slang)" , "Jolts" .)