Feel like something a bit extravagant? (5)
I believe the answer is:
fancy
'extravagant?' is the definition.
(thesaurus)
'feel like something a bit' is the wordplay.
I cannot quite see how this works, but
'like' could be 'y' (similar in meaning) and 'y' is found in the answer.
'a' could be 'an' and 'an' is present in the answer.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for fancy that I've seen before include "Be crazy about" , "Elaborate; whim" , "An ornamental whim?" , "Ornamented" , "Imagine - whim - highly decorated" .)