Raised drink holding one container (4)
I believe the answer is:
pail
'container' is the definition.
(I know that pail is a type of container)
'raised drink holding one' is the wordplay.
'raised' says the letters should be written in reverse (going up in a down clue).
'drink' becomes 'lap' (to lap is to drink up).
'holding' indicates putting letters inside.
'one' becomes 'i' (Roman numeral).
'lap' going around 'i' is 'liap'.
'liap' written backwards gives 'PAIL'.
(Other definitions for pail that I've seen before include "Vessel for carrying liquids" , "Kind of bucket - ask Jack and Jill" , "it may go down well" , "Open-topped container" , "A bucket - the kind Jack and Jill used" .)