Christmas visitor possibly taking other end of weighty decoration (5)

I believe the answer is:

inlay

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'decoration' is the definition.
(I know that inlay is a type of decoration)

I don't understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for inlay that I've seen before include "CD booklet" , "Embed" , "Filling shaped to fit a tooth cavity" , "work of a craftsman" , "eg Marquetry" .)

I've seen this clue in The Independent.

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