What does the cryptic crossword clue "Leaf insect’s colourful display (7)" mean?

The definition is "Leaf". The wordplay uses a charade (building blocks). PAGE (synonym of "Leaf") + ANT (synonym of "insect's"); definition: "colourful display" The answer is PAGEANT.

Leaf insect’s colourful display (7)

Guardian Cryptic #29435 | 5 Across | 2024-07-15 flower

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Also seen in

Telegraph #28510 (2017-08-19)