A locket prize is a type of award given to someone for achieving something special. The term 'locket prize' is derived from the fact that the award is often presented in the form of a locket, which is a small ornamental case that can be worn around the neck and contains a photograph or other memento. The crossword solution for the term 'locket prize' is 'TRESS, ' which is a word used to describe a woman's hair when it is styled into an elaborate arrangement.