Rancher makes versatile animal act (5,7)
I believe the answer is:
snake charmer
'animal act' is the definition.
'rancher makes versatile' is the wordplay.
'versatile' is an anagram indicator.
'rancher'+'makes'='ranchermakes'
'ranchermakes' is an anagram of 'SNAKE-CHARMER'.
(Other definitions for snake charmer that I've seen before include "Musical performer" , "Entertainer who plays music to reptiles" , "Serpent trainer" , "Indian performer?" .)