Drink that may be iced? Right! (5)
I believe the answer is:
cider
'drink' is the definition.
(alcoholic drink)
'may be iced? right' is the wordplay.
'may be' is an anagram indicator.
'right' becomes 'r' (common abbreviation).
'iced' with letters rearranged gives 'cide'.
'cide'+'r'='CIDER'
'that' is the 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" .)