The term 'steeplechase obstacle' refers to the various obstacles that are encountered during a steeplechase race. These obstacles can include fences and hedges, which are both five-letter words. Fences are typically made of wood or metal and are used to separate areas or mark boundaries. Hedges are usually made of shrubs or trees and are used to create a barrier or divide a space. Both fences and hedges are common obstacles in steeplechase races, as they require the runners to jump over them in order to complete the course.