Rearing cheetahs, it effectively inspires obsession (6)
I believe the answer is:
fetish
'obsession' is the definition.
(an obsession or fascination with something)
'rearing cheetahs it effectively inspires' is the wordplay.
'rearing' is a reversal indicator (as in a horse rearing up).
'inspires' indicates a hidden word (inspire can mean to breathe in or inhale).
'hsitef' is hidden in the letters of 'cheetahs it effectively'.
'hsitef' in reverse letter order is 'FETISH'.
(Other definitions for fetish that I've seen before include "Object worshipped by primitive people or fixation (6)" , "Object worshipped for its supposed power" , "Object worshipped as having a spirit" , "charm" , "thing?" .)