Fancy model after drink (7)
I believe the answer is:
suppose
'fancy' is the definition.
(I've seen this before)
'model after drink' is the wordplay.
'model' becomes 'pose' ('pose' can be a synonym of 'model'**).
'after' means one lot of letters go next to another.
'drink' becomes 'sup' (I've seen this before).
'pose' put after 'sup' is 'SUPPOSE'.
(Other definitions for suppose that I've seen before include "Assume without proof" , "Judge" , "Hypothesize" , "'Believe, perhaps on uncertain grounds (7)'" , "Reckon, think" .)