Drink out on the street (5)
I believe the answer is:
stout
'drink' is the definition.
(stout is a kind of drink)
'out on the street' is the wordplay.
'on' means one lot of letters go next to another.
'the street' becomes 'st'.
'out' after 'st' is 'STOUT'.
(Other definitions for stout that I've seen before include "Portly - porter" , "Portly - type of dark beer" , "Strong; drink" , "Kind of beer" , "Bulky" .)