Hanging wasn't good enough for Polonius (5)

I believe the answer is:

arras

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'hanging' is the definition.
(arras is a kind of hanging)

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

(Other definitions for arras that I've seen before include "Tapestry wall hanging" , "Work of art" , "Tapestry; French town" , "Tapestry; WW One battle" , "Wall hanging of heavy woven fabric" .)

I've seen this clue in The Globe and Mail.

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