It may be drunk, or eaten with marmalade, perhaps (5)
I believe the answer is:
toast
'it may be drunk' is the definition.
(as in drinking a toast to someone)
I don't understand the rest of the clue.
(Other definitions for toast that I've seen before include "Raise a glass to (someone)" , "Drink the health of - brown bread!" , "Raising of glasses" , "Grill - clinking of glasses" , "Health-giving" .)