Punch consumed, a drink (5,3)
I believe the answer is:
china tea
'drink' is the definition.
(I've seen this before)
'punch consumed a' is the wordplay.
'punch' becomes 'chin' (slang term meaning to punch someone on the chin).
'consumed' becomes 'ate' (to eat is to consume food).
'chin'+'ate'+'a'='CHINA TEA'
(Other definitions for china tea that I've seen before include "Eastern drink" , "cuppa?" , "Leaves for drink" .)