Tip a fraction of a pound following our short drink (4)
I believe the answer is:
ouzo
'drink' is the definition.
(ouzo is a kind of drink)
'tip a fraction of a pound following our short' is the wordplay.
'tip' says the letters should be written in reverse (I've seen 'tipped' mean this).
'a fraction of a pound' becomes 'oz' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'following' means one lot of letters go next to another.
'short' means to remove the last letter.
'oz' in reverse letter order is 'zo'.
'our' with its last letter taken away is 'ou'.
'zo' after 'ou' is 'OUZO'.
Can you help me to learn more?
(Other definitions for ouzo that I've seen before include "Greek aniseed-flavoured spirit" , "Strong Greek spirit" , "Greek aniseed liqueur" , "Greek aniseed spirit" , "Strong Greek drink" .)