Yellowish ring sent up by fag (5)
I believe the answer is:
ochre
'yellowish' is the definition.
(I've seen this in another clue)
I cannot understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for ochre that I've seen before include "A shade" , "Gold coins, perhaps" , "Orangey colour" , "Earthy colour" , "Yellow-red earthy pigment" .)