Puppets making pledges (5)
I believe the answer is:
pawns
This clue is a double definition.
'puppets' is the first definition.
'pledges' is the second definition.
(pawn is a kind of pledge)
'making' is the link.
(Other definitions for pawns that I've seen before include "Men on board" , "Chess pieces" , "made pledges" , "The foot-soldiers in chess" , "Puts into hock" .)