Teddy at last shaved facial hair (5)
I believe the answer is:
beard
'facial hair' is the definition.
(I've seen this in another clue)
'teddy at last shaved' is the wordplay.
'teddy' becomes 'bear'.
'at last' suggests the final letters.
The last letter of 'shaved' is 'd'.
'bear'+'d'='BEARD'
(Other definitions for beard that I've seen before include "Facial growth" , "Facial hair" , "Whiskers" , "Hair on the chin" , "SECOND PART OF 14" .)