What does the cryptic crossword clue "Reportedly something for fancy dress party individual, once? (4)" mean?

The wordplay uses a homophone (sounds like). Homophone [ reportedly ] of WIG ("something for fancy dress") The Whigs were a political party that preceded the Liberals as the main opposition to the Tories in the 18th and 19th centuries. The answer is WHIG.

Reportedly something for fancy dress party individual, once? (4)

Guardian Cryptic #29365 | 24 Across | 2024-04-24 flower

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