Clue: Piece of Laurel and Hardy finally, a fable that's funny (7)
Answer: BAYLEAF
Explanation: Definition: Piece of Laurel
An anagram ('that's funny') of Y ('Hard**Y** finally') plus 'a fable'. I have just inherited a potted bay tree, which stands about eight feet tall. As it is not winter hardy, it will need some pruning by next winter before getting it into my living room – or, even if I manage to kill it before then, I will have several lifetime's supply of bayleaves for stews and like.