Notice cut in playground equipment (6)
I believe the answer is:
seesaw
'playground equipment' is the definition.
(I've seen this before)
'notice cut' is the wordplay.
'notice' becomes 'see' (notice can mean to spot or see).
'cut' becomes 'saw' (sawing is a kind of cutting).
'see'+'saw'='SEESAW'
'in' acts as a link.
(Other definitions for seesaw that I've seen before include "Recreation ground item" , "Playground equipment for kids" , "Children's playground item" , "Go one way and then the other" , "swing" .)