Woodland deity and young dragonfly (5)
I believe the answer is:
nymph
I believe this clue is a double definition.
'woodland deity' is the first definition.
(I've seen this in another clue)
'young dragonfly' is the second definition.
(I've seen this before)
'and' acts as a link.
(Other definitions for nymph that I've seen before include "eg Dryad" , "Semi-divine maiden associated with nature" , "Beauty -- young larva" , "Maiden - larva" , "Larva of aquatic insect" .)