Old fellows ignored remnant of material (6)
I believe the answer is:
offcut
'remnant of material' is the definition.
(I've seen this before)
'old fellows ignored' is the wordplay.
'old' becomes 'o' (abbreviation).
'fellows' becomes 'ff' (an abbreviation for fellow written twice).
'ignored' becomes 'cut' (I've seen this in other clues).
'o'+'ff'+'cut'='OFFCUT'
(Other definitions for offcut that I've seen before include "Waste piece" , "Remnant of material" , "waste material" , "bit of stick?" , "Small bit of some material" .)