Beware of cut (not with right)! (4)
I believe the answer is:
cave
'beware' is the definition.
(old-fashioned term meaning 'look out')
I don't understand the rest of the clue.
Can you help me to learn more?
(Other definitions for cave that I've seen before include "Large grotto" , "hole" , "Hollow in a cliff or underground" , "Troglodyte's home" , "part of rocky coastline?" .)