Shout "It's cold out here" (5)
I believe the answer is:
cheer
'shout' is the definition.
(thesaurus)
'cold out here' is the wordplay.
'cold' becomes 'c' (eg on taps).
'out' indicates anagramming the letters.
'here' with letters rearranged gives 'heer'.
'c'+'heer'='CHEER'
'it's' is the link.
(Other definitions for cheer that I've seen before include "Applaud and acclaim" , "Jolly" , "Festive food and drink" , "Shout applause and support" , "entertainment" .)