Clue: Gobbled up by Lancelot, a really lovely lyrist (5)
Answer: ERATO
Explanation: Definition: lovely lyrist
Hidden in reverse of lancelOT A Really. Erato is the Muse of lyric poetry: I was going to question "lyrist" (="lyre player") as the definition, as opposed to "lyricist", but Chambers tells me it can mean a lyric poet