Is there a way to embed a MP3 file in a cell so that a clip will play
the file?

One way:
Insert Object Create from file
Browse to choose the MP3 file.

Click on the insertion to play it.

The MP3 file isn't actually in a cell. It kind of hovers over the sheet and
can be repositioned over the cell(s) of your choice. But it is part of the
Excel file.


A different way is to use:
Insert Hyperlink
This actually puts a link in a cell, but the MP3 file is external to the
Excel file. So take care if you're planning to send the Excel file to
another computer.