Warty creature reportedly pulled along (5)
I believe the answer is:
'pulled along' is the definition.
(towing is a kind of pulling along)
'warty creature reportedly' is the wordplay.
'warty creature' becomes 'toad' (I've seen this in another clue).
'reportedly' shows a homophone (sound like).
'toad' is a homophone of 'TOWED'.
(Other definitions for towed that I've seen before include "Hauled" , "Dragged behind" , "Pulled along" , "Helped when powerless" , "drawn" .)