Yellow light round US resort (7)
I believe the answer is:
orlando
'us resort' is the definition.
(resort in Florida)
'yellow light round' is the wordplay.
'yellow' becomes 'or' (heraldic term).
'light' becomes 'land' (light can mean to settle or land).
'round' becomes 'o' (round can mean a round object).
'or'+'land'+'o'='ORLANDO'
(Other definitions for orlando that I've seen before include "City in Florida - site of Disney World" , "2016 Invictus Games city - Virginia Woolf novel" , "Florida location" , "Bloom in film" , "Bloom for one" .)