Drink that may be iced? Right! (5)
I believe the answer is:
cider
'drink' is the definition.
(I know that cider is a type of drink)
'may be iced? right' is the wordplay.
'may be' indicates anagramming the letters.
'right' becomes 'r' (common abbreviation).
'iced' anagrammed gives 'cide'.
'cide'+'r'='CIDER'
'that' acts as a link.
(Other definitions for cider that I've seen before include "Alcoholic drink (to be taken with Rosie?)" , "Drink made from apple juice" , "Drink made from pears" , "Alcohol from apples" , "Drink made from fermented apples" .)