Cool, cold and dry outside in shade (5)

'shade' is the definition.
(thesaurus)

'cool cold and dry outside' is the wordplay.
'cool' becomes 'in' (I've seen this in other clues**).
'cold' becomes 'c' (eg on taps).
'and' is a charade indicator (letters next to each other).
'dry' becomes 'tt' (abbreviation for teetotal).
'outside' means one lot of letters goes inside another.
'in'+'c'='inc'
'inc' put inside 'tt' is 'TINCT'.

'in' is the link.