It's fat and very wet (8)
I believe the answer is:
dripping
This clue is a double definition.
'it's fat' is the first definition.
(dripping is a kind of fat)
'very wet' is the second definition.
(I've seen this before)
'and' is the link.
(Other definitions for dripping that I've seen before include "Very wet; fat from roast" , "Fat melted from roasted meat" , "tap needing washer?" , "perspiring in heat?" , "F [FAT]" .)