Crossword Genius

I'm off toast! (7)

Ross

I believe the answer is:

cheerio

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'toast' is the definition.
(I've seen this before)

I can't explain the remainder of the clue.

Can you help me to learn more?

(Other definitions for cheerio that I've seen before include "A hearty farewell, begins with applause" , "Bye" , "See you" , "British romance imprint" , "Expression used when leaving" .)

I've seen this clue in The Telegraph.
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